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Treasury Bond Prices Rising

MARKETSCOPE : Treasury bond prices rose Monday as investors continued making bets on the direction of U.S. and European interest rates.

The 10-year Treasury notes rose 8/32 to 100-09/32 for yield of 4.465%, the 2-year note was up 12/32 to 99.24 for yield of 4.376%, and the 30-year bonds were up 12/32 at 110.16 for yield of 4.66%.

Investors awaited the release of minutes of the Federal Open Market Commitee's Nov. 1 policy meeting. The Fed is expected to make another decision about interest rates when it meets Dec. 13, after having already hiked them 12 times since 2004.

European bonds rose after European Central Bank President Jean-Claude Trichet said the bank isn't planning a series of interest rate hikes. Mr. Trichet also said the bank will only "moderately augment" borrowing costs.

President Trichet said on Friday that the ECB would "withdraw some of the accomodation which is in the present monetary stance," ahead of the ECB's meeting Dec. 1. His comments add to the recent rhetoric of ECB officials, according to a report on Monday by JP Morgan.

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