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NEW YORK (AP) - A robust report on the U.S. services sector pushed U.S. Treasury bond prices lower Tuesday, propelling the two-year Treasury note's yield to a nine-month high of 5 percent.
The 10-year note wasn't far behind, as the Institute for Supply Management's surprisingly strong reading added to signs the U.S. economy is picking up, with investors continuing to price out the chance of a cut in interest rates.
At 5 p.m. EDT, the 10-year Treasury note was down $4.69 per $1,000 in face value, or 15/32 point, from its level at 5 p.m. Monday. Its yield, which moves in the opposite direction, rose to 5.00 percent from 4.93 percent.
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