Treasurys rise after durable-goods orders drop |
| MarketWatch - Jul 28, 2010 |
Treasury bonds were up slightly Wednesday morning after the Commerce Department reported durable-goods orders posted an unexpected pullback in June.
Yields on 10-year Treasury notes, which move inversely to prices, were down 1 basis point to 3.04%.
June orders for U.S.-made durable goods declined 1%, while economists were forecasting a 1% increase. The drop in total orders was the largest in nearly a year, the government said.
"Today's durable goods report is unquestionably weaker than expected," said Dan Greenhaus, chief economic strategist at Miller Tabak.
Investors will be watching an auction of $37 billion of five-year notes this afternoon. The release of the Federal Reserve's Beige Book later could also move bond markets.
Read Full Article from MarketWatch
- Posted: 2010-07-28 10:38:04
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