NEW YORK (CNNMoney.com) -- A weaker-than-expected government report on the economy sent investors flocking back into Treasurys Friday, pushing the prices up on U.S. debt and driving yields down.
What prices are doing: The benchmark 10-year note rose 25/32 to 105-2/32, with a 2.9% yield. Bond prices and yields move in opposite directions.
The 30-year bond rose 1-28/32 to 106-30/32 and its yield rose to 3.98%. The 2-year note inched up 2/32 to 100-5/32 and yielded 0.56%, while the 5-year note edged up 12/32 to 100-24/32 and a 1.6% yield.
What's moving the market: The Commerce Department sparked concerns about the recovery when it reported gross domestic product, the broadest measure of the nation's economic activity, rose at a slower rate than expected in the three months ended June 30.
Investors view Treasurys as a low-risk buy during times of economic uncertainty, so the news increased the safe-haven appeal of the government bonds.
Numbers that continue to show the economic recovery may be loosing steam continue to make a case for owning Treasurys, Kevin Giddis, managing director of fixed income at Morgan Keegan, said in a note to investors.
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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