Treasuries Lower

Prices skidded after the FOMC minutes for December indicated policymakers might become more aggressive about raising rates

S&P MARKETSCOPE: Treasurys skidded as Fed FOMC minutes indicated it might become more aggressive in raising rates because some members worried about potential inflation. The 10-year Treasury note was down 17/32 to 99-24/32 for a yield of 4.287%, up from 4.21% yesterday. The 30-year bond was down 1-03/32 to 107-09/32 for yield of 4.88%. Bonds ran into pressure earlier, on a stronger than expected Factory Orders report. Treasuries were also hurt by higher oil prices. They bounced around midday on a rumor Iraqi terrorist Zarqawi had been arrested, but Washington denied it. The market is bracing for for Friday's Payroll report.

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