NEW YORK, May 15 (Reuters) - Treasury yields fell on Wednesday morning, with the two-year yield at its lowest in 15 months, after U.S. retail sales missed expectations raising the prospect of a Federal Reserve rate cut.
U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, which could temper expectations for a sharp rebound in consumer spending after it slowed in the first quarter, the Commerce Department reported Wednesday.
The two-year yield fell as low as 2.141%, breaking through late-March levels to its lowest since February 2018. It was last down 4 basis points at 2.162%. (Reporting by Kate Duguid; Editing by David Gregorio)