October 17, 2018 / 1:31 PM / in 4 months

TREASURIES-U.S. bond yields hold steady as housing starts fall

(Updates market action, adds quote)

NEW YORK, Oct 17 (Reuters) - U.S. Treasury yields were little changed on Wednesday even as data showed domestic housing starts fell more than forecast in September, with building activity in the south likely reduced by Hurricane Florence.

A 5.3-percent drop in U.S. home construction last month raised some concerns about U.S. economic growth in the third quarter. Most analysts, however, downplayed the weaker starts figures and expected building activity to recover in the coming months.

“Aside from the weather-related swings, housing starts seem to be relatively stable,” said Stephen Stanley, chief economist at Amherst Pierpont Securities in Stamford, Connecticut.

An expected lower open on Wall Street stoked some safe-haven bids.

At 9:19 a.m. (1319 GMT), benchmark 10-year Treasury yield was 3.158 percent, marginally lower than late Tuesday, while the 30-year yield was 3.327 percent, 0.5 basis point lower on the day. (Reporting by Richard Leong; Editing by Bernadette Baum and Susan Thomas)

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