Treasury prices slip after government reports some equipment orders rose last month
By APFriday, September 24, 2010
Treasurys drop on signs of corporate spending
NEW YORK — Treasurys prices are dropping after a positive report on durable goods orders caught traders by surprise.
The Commerce Department reported Friday that durable goods orders excluding transportation rose 2 percent, the best showing in five months.
Signs of economic vigor usually push traders to shift their bets out of safe assets like Treasurys and into riskier investments like stocks.
The 10-year Treasury lost 43.7 cents, dropping the price to $100.09. Its yield moved up to 2.61 percent, compared with 2.55 percent late Thursday.
The 30-year bond fell $1.00 to 101.46. The yield rose to 3.79 percent, up from 3.73 percent.
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