Treasuries slip on strong economic data

Published March 30, 2012 6:45PM (EDT)

NEW YORK (AP) — Treasury prices are falling on more signs that the U.S. economy is strengthening.

The government on Friday reported that consumer spending grew in February by the most in seven months.

The price of the benchmark 10-year Treasury note fell 46.8 cents for every $100 invested, pushing its yield higher to 2.22 percent from 2.16 percent late Thursday.

With increasing evidence that the U.S. economic recovery is getting stronger, more investors are abandoning the safety of U.S. Treasury bonds. The 10-year Treasury yield has climbed up this month from 1.99 percent at the end of last month.

The price of the 30-year Treasury bond fell $1.25, pushing its yield up to 3.34 percent from 3.28 percent.

By Salon Staff

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