Treasury yields retreat after data hints at slowing economy

U.S. Treasury Bond Yields Drop as Investors Assess Economic Data #

U.S. Treasury bond yields slightly declined on Friday as investors analyzed recent economic data for signs of a slowing economy. The 10-year Treasury yield was down 2 basis points, while the 2-year Treasury note yield dropped over 1 basis point. The decrease in yields coincided with an increase in initial jobless claims and a larger than expected decline in housing starts. Additionally, a worse-than-expected reading of the Philadelphia Fed Manufacturing Index added to concerns about the economy. Traders are now awaiting manufacturing and services Purchasing Managers’ Index readings for June and existing home sales data for May.