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Yields rise from lows after U.S. retail sales data


Reuters


NEW YORK, Aug 15 (Reuters) - U.S. Treasury yields edged higher from their lowest levels on Thursday after data showed U.S. retail sales increased by more than expected last month, suggesting fairly robust consumer spending that should help ease worries about recession in the world's largest economy.

Other economic reports were not so upbeat, with initial jobless claims worse than expected and the Philadelphia Federal Reserve business conditions data having mixed details.

But the market focus has been on retail sales, which rose 0.7% last month. Economists polled by Reuters had forecast retail sales would rise 0.3% in July. Excluding automobiles, gasoline, building materials and food services, retail sales jumped 1.0% last month after advancing by an unrevised 0.7% in June.

Yields on 30-year bonds, which fell earlier from fresh record lows at 1.941%, were last at 2.0% from 2.027% on Wednesday. Before the data, 30-year yields were at 1.998%






This article appears in: Stocks , World Markets , Politics
Referenced Symbols: TLT



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