NEW YORK: The US Treasuries market's losses grew on Wednesday as data on domestic home construction and producer prices suggested resilience in the housing sector, and stabilization in price growth despite turmoil in the oil market.
The Labor Department said its producer price index edged up 0.1 percent in January after slipping 0.2 percent in December. Economists polled by Reuters had forecast the PPI dropping 0.2 percent last month.
Housing starts declined 3.8 percent to a seasonally adjusted annual pace of 1.099 million units, the Commerce Department said. The pace fell short of the 1.17 million unit rate projected by analysts polled by Reuters, likely due to inclement weather in parts of the country.
Benchmark 10-year Treasury notes were down 10/32 in price for a yield of 1.814 percent, up nearly 4 basis points from late on Tuesday. The 10-year yield reached a 1-1/2 week high of 1.822 percent.
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