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Markets & Finance

Treasurys Down on Comments from Fed Official


MARKETSCOPE : Treasury bond prices fell on Wednesday, after Richmond Federal Reserve President Lacker said U.S. policymakers are not finished hiking rates.

The 10-year Treasury notes were off 11/32 to 100-08/32 for yield of 4.474%, while the 30 year bonds were off 25/32 at 109-27/32 for yield of 4.707%

Markets showed little immediate reaction to news about economic data indicators. The University of Michigan's November consumer sentiment index rose to 81.6 in the final reading, from the 79.9 preliminary posting and 74.2 in October. Jobless Claims rose 30,000 to 335,000 in the week ended Nov. 19, from 305,000 the week before.

In Nov. 1 Federal Open Market Committee meeting minutes released on Tuesday, U.S. Federal Reserve members had expressed concern about the possibility of going too far in tightening credit. The Fed has raised rates 12 times since 2004 in an effort to control inflation.


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