US yields trim fall on July industrial output data

NEW YORK: US Treasuries yields pared their earlier decline early Friday after stronger-than-expected data on US industrial output in July mitigated an earlier disappointing report on New York state business activity in August from the New York Federal Reserve.

The Federal Reserve Board reported industrial output grew 0.4 percent last month, above the 0.3 percent increase forecast by analysts polled by Reuters.

Manufacturing production jumped 1.0 percent in July, much stronger than the 0.4 percent rise projected by analysts.

The yield on benchmark 10-year Treasuries was down 0.4 basis point at 2.394 percent. It was 1.1 basis points lower shortly before the release of the July industrial output data.