U.S. Treasurys yields fell on Tuesday after U.S. retail sales for April came in below economists' forecasts, though growth expectations for the second quarter were little changed.
U.S. retail sales barely rose in April and a gauge of consumer spending slipped, held back by declines in receipts at furniture, electronic and appliance stores, restaurants and bars and online retailers.
The Commerce Department said on Tuesday retail sales edged up 0.1 percent last month, less than economist forecasts of 0.4 percent, though the figure for March was revised upward to 1.5 percent.
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While the market was disappointed, "the number is not as bad as the headline,'' said Charles Comiskey, head of Treasuries trading at Bank of Nova Scotia in New York, noting the rise from March's 1.5 percent growth figure showed still-solid growth.
Benchmark 10-year Treasurys have held in a tight range since January, with yields oscillating between 2.57 percent and 2.82 percent as investors analyze data for signs of when the Federal Reserve is likely to begin raising rates, which many expect next year.