Treasury Prices Fall In Thinly-traded Market


Salon Staff
December 24, 2011 1:18AM (UTC)

NEW YORK (AP) — Treasury prices fell Friday as a thinly-traded market digested stronger economic numbers from earlier in the week.

The price of the benchmark 10-year Treasury note fell 68.7 cents per $100 invested Friday. Its yield rose to 2.03 percent from 1.95 percent Thursday. Trading was light as markets closed at 2 p.m. ahead of the Christmas holiday. U.S. markets will be closed Monday.

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Earlier in the week, economic data showed that the job market was on the mend and holiday sales for retailers remained strong. Treasurys tend to lose their appeal as a safe haven investment when there's positive economic news.

Traders shrugged off weaker economic numbers released Friday. Consumer spending and incomes rose just 0.1 percent in November, and a measure of business investment decreased for the second straight month.

The yield on the 30-year bond rose to 3.05 percent from 2.98 percent late Thursday. Its price fell $1.40 per $100.

In other trading, the yield on the two-year Treasury note edged up to 0.29 percent from to 0.27 percent. The three-month T-bill paid a yield 0.003, down from 0.01 percent. Its discount wasn't available.


Salon Staff

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