The yield on the benchmark 10-year Treasury note rose to 2.72 percent

Treasurys are mixed; Short-dated bonds rise

NEW YORK — Longer-dated Treasurys are dropping while shorter-dated Treasurys step slightly higher in late afternoon trading.

The long bond maturing in 2040 fell $1.25 to $100.06 Wednesday, pushing its yield up to 3.87 percent. Bond prices and yields move in the opposite direction.

The 10-year Treasury note dropped 34.3 cents to $99.12, raising the yield to 2.72 percent. Its yield is used as a common benchmark for interest rates on corporate and mortgage loans.

At the short end, the 2-year note inched up 3.7 cents to $99.75. Its yield was 0.49 percent.