NEW YORK (CNNMoney.com) -- Prices for U.S. Treasurys edged higher Wednesday, with the yield on the 2-year note holding at a record low, after Federal Reserve Chairman Ben Bernanke called the economic recovery "unusually uncertain."
What prices are doing: The benchmark 10-year note rose 18/32 to 105-8/32 and its yield fell to 2.88% from 2.94% late Tuesday. Bond prices and yields move in opposite directions.
The 2-year note rose 2/32 to 100-4/32 with a yield of 0.57% -- an all-time low.
The 5-year note gained 7/32 to 101-3/32 and its yield was 1.65%.
The 30-year bond was higher by 1-19/32 to 108-15/32 with a yield of 3.9%.
What's moving the market: With no economic reports on the agenda, investors focused on Bernanke's testimony on monetary policy before Congress Wednesday afternoon.
His comments that the economic recovery remains "unusually uncertain," spurred investors to buy up more government bonds, which are considered a low risk investment in times of economic uncertainty.
Meanwhile, stock prices slumped as investors looked past stronger-than-expected quarterly results from Morgan Stanley (MS, Fortune 500), Wells Fargo (WFC, Fortune 500) and Coca-Cola (COKE).
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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