Treasuries Recover from Earlier Losses
MARKETSCOPE : Treasury bond prices recovered from their earlier losses Thursday.
The 10-year note edged up 03/32 to 98-14/32 for a yield of 4.45%, while the 30-year bond rose 10/32 to 110-14/32 for a yield of 4.67%.
Atlanta Fed President Guynn indicated the Fed might hike rates 50 basis points in the coming month and maybe twice to counter inflationary forces. Some traders bet that the hikes would hasten an end to the Fed's lengthy credit tightening program.
Prices had fallen after news hit earlier that the Philadelphia Fed Index rose to 17.3 from 2.2 for the month. The prices paid component jumped to 67.6 from 52.7.