US yields edge up after consumer spending data

NEW YORK: US Treasury yields edged higher on Monday as traders shrugged off softer-than-expected data on domestic personal consumption in February, which supports the view the Federal Reserve would raise interest rates at a gradual pace.

The U.S. Commerce Department said consumer spending edged up 0.1 percent after a downwardly revised 0.1 percent gain in January. The January increase was originally reported at 0.5 percent.

Benchmark 10-year Treasury yields were last up 0.9 basis point from late on Thursday at 1.900 percent.

U.S. financial markets were closed on Friday for the Good Friday holiday.