US industrial output up 0.1% in December, slightly above expectations; up 1.0% over past 12 months; Treasury yields rise; rate-cut expectations soften; capacity utilisation rate steady at 78.6%, below long-term average. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities located in the United States. These sectors are thought to be sensitive to consumer demand and so some leading indicators of...