Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Hurricane Katrina Worries Boost Treasuries

From S&P MarketScope: Treasury bond prices rallied in late trading Tuesday, as investors worried about the far-reaching consequences of Hurricane Katrina and fled to the relatively safer bond market.

The 10-year note climbed 18/32 in price during the day to 101-07/32 for a yield of 4.10%, while the 30-year bond jumped 22/32 to 116-08/32 for a yield of 4.32%.

As reports of refinery damage hit, October West Texas Intermediate crude oil prices rose to a New York Mercantile Exchange record closing high of $69.81 and gasoline futures skyrocketed 20%. The high oil prices sparked investor concerns about an adverse impact on the economy, and the strength in bond prices partly reflects expected downward revisions to third quarter Gross Domestic Product forecasts.

August Federal Open Market Committee meeting notes included mention that higher oil prices were a drag on economic growth, although the Fed spoke mostly positively about the economy. August consumer confidence rose, while July factory orders fell.

U.S. equity prices slid as the bond market closed, but the U.S. dollar's value was modestly stronger.

blog comments powered by Disqus