Главная » 2009 » Май » 12 » Treasurys retreat as Fed keeps buying
Treasurys retreat as Fed keeps buying
19:37
Prices for U.S. debt decline after reports on employment and housing. Fed buys back more government assets.
NEW YORK (CNNMoney.com) -- Treasurys fell Thursday as investors responded to mixed economic news and the Federal Reserve's ongoing campaign to buy $300 billion worth of U.S. debt.
Government figures showed the number of people filing initial claims for unemployment benefits fell more than expected last week, while the overall jobless number rose to another record.
Another report said new home construction fell sharply in March after a surprise rebound the month before. But analysts still say there is reason to think the housing market is nearing a bottom, helping buoy equities.
Stocks seesawed investors digested the recent economic data and better-than-expected quarterly results from banking giant JPMorgan Chase (JPM, Fortune 500).
Meanwhile, the Federal Reserve bought $1.5 billion worth of Treasury Inflation Protected Securities, or TIPS. Earlier this week, the central bank bought $14.7 billion worth of Treasurys.
By purchasing government debt, the central bank hopes to drive down interest rates on consumer and business loans and give a jolt to the economy.
Bond prices: The benchmark 10-year bond was down 15/32 to 99 12/32, and its yield rose to 2.83% from 2.77% Wednesday. Bond prices and yields move in opposite directions.
The 30-year bond fell 23/32 to 96 10/32, and its yield rose to 3.7% from 3.66%
The 2-year note lost 2/32 to 99 31/32 and its yield rose to 0.88% from 0.86%.
The 3-month yield fell to 0.14% from 0.15%.
Meanwhile, lending rates were little changed. The 3-month Libor rate was unchanged from Wednesday at 1.11%, according to Bloomberg.com. The overnight Libor rate was 0.25%, down from 0.26%.
Libor, the London Interbank Offered Rate, is a daily average of rates that 16 different banks charge each other to lend money in London. Источник - qqБизнес.ру
