Sunday, July 29, 2007

U.S. Treasuries Decline on Speculation Bonds Have Become Too Expensive

(Bloomberg) -- Benchmark 10-year U.S. Treasuries
fell, snapping four days of gains, on speculation the securities
have become too expensive with yields near a 10-week low.

The yield on the 10-year note rose 2 basis points, or 0.02
percentage point, to 4.78 percent at 1:32 p.m. in Singapore,
according to bond broker Cantor Fitzgerald LP. The price of the
4 1/2 percent note due May 2017 fell 5/32, or $1.56 per $1,000
face amount, to 97 26/32. Yields move inversely to bond prices.
Ten-year note yields fell 19 basis points last week, the biggest
decline since the period ended Sept. 22.


Read more at Bloomberg Bonds News

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