Treasuries End Lower

Prices fell on Fed Chief Greenspan's vow to raise rates aggressively to stem inflation

Treasuries fell as Federal Reserve Chairman Greenspan outlined a positive environment for stocks but an increasingly poor outlook for bond markets. Greenspan, though upbeat on the economy before congressional committees today, warned that the Fed would raise rates aggressively if needed to combat inflation. He indicated that the Fed may hike rates at the last four meetings of the year -- boosting the federal-funds target to close to 2.25%.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.