Interest rates edge higher to end week as investors risk appetite grows
By APFriday, September 10, 2010
Interest rates rise for 3rd straight day
NEW YORK — Investors are opting for riskier assets, moving out of the safety of Treasurys after another sign of economic expansion.
Treasury prices are falling and interest rates rising in a very light day of trading Friday.
The Commerce Department reported another positive sign on the economy earlier in the day, a sharp increase of wholesale inventories and sales in July.
Money had flooded into Treasurys in August when there were fears the economy might fall back into recession. Investors have been reversing that trend in early September, shifting funds back into stocks as their confidence in the economy improves.
The yield on the 10-year Treasury note, which moves opposite its price, is up to 2.78 percent from 2.76 percent late Thursday.
