Treasurys end flat, dollar slides Bond prices drift lower ahead of regional reading on manufacturing; dollar tumbles vs. yen. NEW YORK (CNNMoney.com) -- Treasury prices ended flat Monday, after the yield on the benchmark 10-year note briefly flirted with rising above the key 5 percent level. The dollar fell slightly against the yen and euro. The benchmark 10-year note gained 1/32, or $0.31 on a $1,000 note, to yield 4.99 percent, down from 5.00 percent late Friday. The 30-year bond was unchanged, yielding 5.07 percent. Bond prices and yields move in opposite directions. The five-year note rose one tick, yielding 4.98 percent, while the two-year note held steady, yielding 4.98 percent. The morning's stronger-than-expected read on manufacturing in the Chicago area added to concerns that the Fed's two-year old rate hiking campaign is not yet done. Chicago PMI rose to 57.9 in July from 56.5 in June. Economists surveyed by Briefing.com thought it would fall to 56. Bond prices jumped Friday after the government said the U.S. economy cooled significantly in the second quarter. Investors interpreted the report as a sign that the Fed may begin to wind down its 2-year old interest rate raising campaign. In currency trading, the euro bought $1.2772, up from $1.2763 late Friday. The dollar bought ¥114.63, down from ¥114.64 in the previous session. |
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