NEW YORK (CNNMoney.com) -- Treasury prices rose Wednesday after a disappointing U.S. retail sales report, and a moderately strong auction of $13 billion in long bonds.
What prices are doing: The benchmark 10-year note was up 22/32 to 103-17/32 and its yield fell to 3.05%. Bond prices and yields move in opposite directions.
The 2-year note edged up 4/32 to 100-1/32 with a yield of 0.61%, while the 30-year bond added 1-13/32 to 106 and yielded 4.01%.
What's moving the market: The Commerce department released a report earlier Wednesday that said retail sales fell for the second straight month in June.
Total retail sales fell 0.5% to $360.2 billion last month. Economists surveyed by Briefing.com expected that sales would slip by only 0.2%. The downbeat data pushed investors toward the safe haven of bonds, pulling prices higher -- even though bond prices often fall ahead of auctions.
The Treasury Department auctioned $13 billion in 30-year notes Wednesday, as part of its sale of $69 billion worth of notes and bonds this week in quarterly refunding. The sale's bid-to-cover ratio -- an indicator of investor demand for the bonds -- was 2.89, slightly higher than that of the last long bond sale.
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
Today's featured rates:
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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