Treasuries Lower

Investors watched Hurricane Rita lose steam, though it remains a powerful storm

MARKETSCOPE : Treasuries lost ground on Friday, as Rita was downgraded to a category 3 hurricane and energy prices sank sharply.

Bond investors liquidated the long positions that were built on a flight to safety earlier this week, when Rita had been rated at category 5.

The 10-year note fell 16/32 to 100-02/32 for a yield of 4.24%, while the 30-year bond sank 24/32 to 112-31/32 for a yield of 4.51%.

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