Markets & Finance
Bonds Close Lower
S&P MARKETSCOPE: Treasurys fell as stronger than expected Industrial Production and Capacity Utilization reports bolster contentions by St. Louis Fed President Poole the Fed eventually will have to abandon its "measured" pace of credit tightening. A larger than expected PPI decline prevented a market rout. Inflation was not a major problem, even though oil futures rose today. Two-year Treasury notes fell 03/32 to 99-19/32 for yield of 3.229%. 10-year notes fell 13/32 to 100-09/32 for yield of 4.220%. 30-year Treasury bonds shed 21/32 to 109-19/32 for yield of 4.734%. The dollar is strong on the data and indications the Fed will continue to raise rates at the Feb. 1 to 2 meeting.