Markets & Finance

Treasury Prices Slip

MARKETSCOPE : Treasury bond prices finished unchanged on Thursday, after recovering from their initial losses.

The benchmark 10-year note closed unchanged at 98-07/32 for a yield of 4.726%, while the 30-year bond closed unchanged at 96-18/32 for a yield of 4.715%.

Overnight on Thursday, the Bank of Japan ended its quantitative easing policy by voting to reduce the money supply. The development means global borrowing costs are headed higher and make U.S. Treasury bond yields less attractive investments.

Foreign investors have played an important role in financing the deficit in recent years.

News hit Thursday that the U.S. trade deficit widened to a record $68.5 billion in January from $65.1 billion in December. This was revised from the $65.7 billion previously reported.

Initial Jobless rose 8,000 to 303,000 in the week ended March 4, from 295,000 the week before. That was revised from 294,000.

Investors squared their positions in later trading ahead of the February labor report scheduled for release on Friday.

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