U.S. Treasury yields rose on Monday after data showed that personal income rose in January, reducing some fears that the U.S. economic growth is slowing.
Personal income rose by 0.3 percent in January though personal consumption fell by 0.2 percent, the U.S. Commerce Department said. Some economists had expected the number would be dragged down by a drop in medical care costs.
“There were some concerns that weaker medical readings would pass through to weaker PCE because it’s a major factor. It looks like that didn’t really happen,” said Gennadiy Goldberg, an interest rate strategist at TD Securities in New York. “It allays some of the fears of a slowdown in growth momentum.”
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