NEW YORK, July 10 U.S. Treasuries prices erased
most losses after the Federal Reserve's release of the minutes
of its June policy meeting showed policymakers were a little
more dovish than the market had counted on.
The benchmark 10-year Treasury note, down 8/32
before the minutes of the June 18-19 Federal Open Market
Committee were released, erased that loss before slipping 2/32.
Its yield stood at 2.65 percent.
Even as consensus built within the Fed about the likely need
to begin pulling back on economic stimulus measures soon, many
officials wanted more reassurance the employment recovery was on
solid ground before a policy retreat, the minutes
Subsequent to the mid-June monetary policy meeting, the U.S.
Labor Department on July 5 released June employment data that
the market viewed as stronger than expected, as well as upward
revisions to previous monthly job counts.