TREASURIES -US yields retreat from highs; data supports Fed patience

NEW YORK, March 19 (Reuters) - U.S. Treasury yields eased back from their highs on Thursday, paring their earlier increase that appeared driven by technical factors, even as fresh data pointed to labor market resilience and improving manufacturing activity in the U.S. Northeast.

The releases supported the view that the Federal Reserve can afford to be patient before restarting its rate-cutting cycle.

In morning trading, the two-year yield, which reflects interest rate expectations, was last up 14.7 basis points (bps) at 3.889% US2YT=RR, while the benchmark 10-year yield rose 4.7 bps 4.304% US10YT=RR.