Markets & Finance

Treasury Prices Rise


MARKETSCOPE : Treasury bond prices rose on Thursday, after their sell-off Wednesday.

The 10-year note rose 05/32 to 97-18/32 for a yield of 4.56%, while the 30-year bond fell 08/32 to 108-25/32 for a yield of 4.78%.

Stock markets were taking hits, amid concerns about the U.S. economy and a Securities Exchange Commission investigation into the automaker giant General Motors.

News also hit that U.S. new home sales rose 2.1% to a 1.222 million pace in September, partially offsetting the 11.6% plunge in August to 1.197 million. The supply of homes held at a 4.9 month rate and the median price declined to $215,700 from $220,300. While the impact from hurricanes distorted the data, the dip in prices may suggest a slowdown in housing.

Initial jobless claims fell 28,000 to 328,000 in the week ended Oct. 22, from 356,000 the week earlier. The market consensus had been for a drop to 338,000. September durable goods orders fell 2.1% after rising 3.8% in August, which was revised from 3.4%. The market had expected a 1.0% drop.

Investors bet that the Fed will raise interest rates at next Tuesday's meeting. Investors continued watching Fed chairman nominee Ben Bernanke for more information about his inflation fighting credentials.


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus