TREASURIES-Long bond falls 1 full point on stocks, data

Thu Apr 24, 2008 9:37am EDT
 
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NEW YORK, April 24 (Reuters) - The U.S. 30-year long bond fell a full point on Thursday as a strengthening stock market outlook and unexpectedly strong data dimmed the allure of safe-haven Treasuries.

The bond market selloff came after data showed unexpected resilience in business investment and the labor market, sending yields higher across all maturities.

The 30-year long bond US30YT=RR was last trading 1-2/32 lower, yielding 4.56 percent. The yield on the two-year note US2YT=RR -- the most sensitive to changing expectations for Federal Reserve rate actions -- rose above 2.33 percent.

That was the highest two-year yield since January and it created the widest spread over the central bank's federal funds target rate since June 2006. (Reporting by Burton Frierson; Editing by Theodore d'Afflisio)

 
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