US bond prices hold losses after housing starts data

NEW YORK: US Treasuries prices hovered near their session lows on Wednesday as domestic housing starts slowed to a seven-month low in October but a rise in building permits signaled construction activity would accelerate.

Groundbreaking dropped 11 percent to a seasonally adjusted annual pace of 1.06 million units in October, the lowest level since March, while permits increased 4.1 percent to a 1.15 million-unit rate, the Commerce Department said.

Benchmark 10-year Treasuries notes were down 10/32 in price for a yield of 2.296 percent, up 3.5 basis points from late on Tuesday.