TREASURIES-US yields slightly trim losses after strong housing data
NEW YORK, Jan 17 (Reuters) - U.S. Treasury yields modestly cut losses on Friday after data showed single-family homebuilding expanded solidly in December, backing expectations the Federal Reserve won't cut interest rates as much as it indicated in its rate forecasts in December.
Data showed single-family housing starts, which account for the bulk of homebuilding, rose 3.3% to a seasonally adjusted annual rate of 1.050 million units last month. Data for November was revised higher to show homebuilding increasing to 1.016 million units from the previously reported 1.011 million units.
The benchmark 10-year yield rose to 4.580% US10YT=RR after the data. It was last at 4.576%, still down 3 basis points.
(Reporting by Gertrude Chavez-Dreyfuss)
((gertrude.chavez@thomsonreuters.com; 646-301-4124))
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