Increases in personal income and spending nudge Treasurys down. 10-year yield at 2.54 percent
By APFriday, October 1, 2010
Treasury prices edge lower on economic reports
NEW YORK — Small but promising signs of economic growth are causing Treasurys to trade lower.
The Commerce Department reported Friday that both personal income and spending rose in August. The 0.5 percent rise in personal income eclipsed the 0.2 percent gain in July. It was also the fastest clip for the measure in five months.
In early afternoon trading, the 10-year note lost 31 cents to $100.68 with a 2.54 percent yield. The note paid a 2.51 percent yield late Thursday. Bond yields rise when their prices fall.
The long bond maturing in 2040 slipped 93 cents to $102.50, raising the yield from 3.68 percent to 3.73 percent.
The two-year note was unchanged from Thursday with a yield of 0.43 percent.
