By ALDEN BENTLEY
NEW YORK- US Treasury yields rose on Tuesday as investors returned from the Presidents Day holiday weekend, digesting last week’s market swings and another piece of data showing growth remains strong enough to complicate the Federal Reserve’s easing path.
The benchmark 10-year Treasury note yield briefly dipped, then rose after the New York Fed’s February Empire State business conditions index came in at a stronger-than-expected 5.7, versus -12.6 in January.
Lou Brien, market strategist at DRW Trading in Chicago, said the report supported the idea that the economy was in even better shape than when the Fed met in January and left the policy rate at 4.25 percent-4.50 percent, after bringing it down a percentage point since September.
“On a holiday week like this when volumes might be a little light, sometimes lesser data can move the market a little bit more than usual,” Brien said.
