MARKETSCOPE : Treasury bond values slid on Friday, as investors watched news about durable good orders and a thwarted attack on a Saudi Arabian oil refinery.
The benchmark 10-year bond yield rose to 4.57% at around noon Eastern Standard Time, from 4.56% at Thursday's close. Prices fall when yields rise.
Al-Arabiya reported that Saudi authorities foiled an attempt to bomb an oil refinery, according to the Associated Press. Oil prices rose amid rumors about damages.
U.S. Durable Goods Orders plunged 10.2%% in January from their 2.5% increase in December, which was revised from 1.8%. Transportation orders fell 31.2%, largely a function of a drop in Boeing orders. Excluding transportation, orders were up 0.6% following a 1.9% gain in December, which was revised from 1.7%.
"The plunge in durable goods orders in January is entirely due to volatility in transportation," says John Ryding, an analyst at Bear Stearns in New York. "The underlying details of this report are much stronger than the headline."
Meanwhile Federal Reserve Chairman Ben Bernanke makes a speech Friday afternoon.