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Article: Bonds Mixed Ahead of Fed News
- Article from:
- AP Online
- Article date:
- January 29, 2001
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AP Online
01-29-2001
Bonds Mixed Ahead of Fed News
NEW YORK (AP) -- Longer-dated bonds fell Monday and shorter-term issues held steady, on expectation of a half-point cut in interest rates by the Federal Reserve later this week.
The price of the benchmark 10-year Treasury note fell 5/16 point, or $3.13 per $1,000 in face value. Its yield, which moves in the opposite direction, rose to 5.30 percent compared with 5.26 percent late Friday.
The 30-year Treasury bond fell 25/32 point to yield 5.69 percent, according to Bridge Telerate news service.
Traders flocked to shorter-term Treasurys Monday, on the belief that the Fed will cut rates. Those cuts would raise the value of bonds already in ...