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Tuesday 06th of January 2009
July 5, 2005

US Treasury bond prices down and yields up


by Brian Turner
US Treasury bond prices down and yields up

Late in the day in New York on Tuesday, US Treasury bonds saw a sell-off in shorter-dated issues and more investors buying longer-dated notes.

This sent prices down and yields up. The 2-year bond gained 2.9 basis points to yield 3.786 percent, the 10-year bond was up 5.6 basis points to 4.111 percent, and the 10-year bond rose 6.3 basis points to a yield of 4.362 percent.

Analysts said that many investors were waiting for the release of Friday’s monthly employment figures as well as for Federal Reserve chairman Alan Greenspan’s twice-yearly Congressional testimony to see if he will reveal any more information concerning the future direction of interest rates before they commit themselves.

In the eurozone, positive news on German and eurozone retail sales helped overcome recent news of more negative economic indicators.

The 2-year Schatz gained 5.2 basis points to yield 2.158 percent, while the 10-year Bund was up 4.5 basis points to 3.212 percent.

In the UK, the 2-year gilt gained 5.9 basis points to 4.147 percent and the 10-year gilt was up 4.6 basis points to yield 4.263 percent on expectations that UK interest rates will remain at 4.75 percent this month but will be cut in August.

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