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Sunday 22nd of June 2008
July 29, 2005

Bond prices lower on good US economy data


by Brian Turner
Bond prices lower on good US economy data

Prices were lower and yields higher on US Treasury bonds on Friday after the release of a series of reports showing the US economy to be in generally good shape.

Data showed that the GDP had grown by 3.4 percent, near expectations, in the second quarter, while inflation remained in check.

The inflation data caused a slowdown in the selling of bonds at first, but release of the Chicago purchasing managers’ index that showed it up to 63.5, much higher than the expected level of 55, sent bond prices lower.

By late in the day in New York, 30-year bonds were up 3.1 basis points for the week to a yield of 4.476 percent, while the yield on 10-year bonds had gained 8.5 basis points just on the day to 4.28 percent. 10-year bonds were up 5 basis points for the week.

Meanwhile, 2-year bonds gained 5.8 basis points for the day and 10.5 basis points on the week, to yield 4.015 percent.

Story link: Bond prices lower on good US economy data


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