Bonds pare losses after ECB policy announcement

NEW YORK: US Treasury debt prices pared losses on Thursday after the European Central Bank held key interest rates unchanged as a rise in inflation last month offset pressure to lower rates to combat the euro zone debt crisis.

The 30-year bond last down 10/32 in price, compared with a 26/32 drop shortly before the announcement, with a yield of 2.87 percent, down from 2.89 percent prior to the rate decision.

Copyright Reuters, 2011