Treasury Yields Decline As Data Point To Slower-than-expected Recovery

Treasury yields declined after economic reports showed a slower-than-expected U.S. recovery, which might give the Federal Reserve some pause as it gathers steam to lift rates for the first time in a decade. Sales at U.S. retailers rose for the third month in a row but at a slower pace than investors' expectations. Import prices also increased but entirely due to the sharp increase in fuel costs. And jobless claims also came in near all-time lows but higher than anticipated. The 10-year benchmark Treasury note yield (TPI:BX:TMUBMUSD10Y) fell three basis points to 2.446%. The 30-year bond yield (TPI:BX:TMUBMUSD30Y)declined 4.6 basis points to 3.162%.