MW: Treasurys extend slide after housing starts data
By Ben Eisen
NEW YORK (MarketWatch) -- Treasury prices fell Wednesday after data showed construction on new homes jumped by 22.7% in November. The rate of growth in housing starts hit the highest level since February 2008, and beat Wall Street expectations. After the data, the benchmark 10-year note 10_YEAR +1.30% yield, which moves inversely to price, was up 3 basis points on the day at 2.872%. The 30-year bond 30_YEAR +0.91% yield rose 3.5 basis points to 3.901% and the 5-year note 5_YEAR +2.01% yield rose 2.5 basis points to 1.520%. The Federal Reserve will also release a policy statement and hold a press conference Wednesday afternoon. The Treasury Department will sell 5-year notes.
