July 16, 2012 / 12:42 PM / 5 years ago

TREASURIES-Bonds add gains after retail sales drop

NEW YORK, July 16 (Reuters) - U.S. Treasuries prices extended earlier gains on Monday after data showed U.S. retail sales recorded a surprise 0.5 percent fall in June, reinforcing the view of a weakening overall U.S. economy likely needing more stimulus from the Federal Reserve.

Benchmark 10-year Treasury notes were up 8/32 in price at 102-19/32, doubling its earlier gain before the release of the consumer spending report.

The 10-year yield was 1.46 percent, down 3 basis points from late on Friday and about 2 basis points from its lowest level going back to the early 1800s.

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