Treasury Bond Prices Rising
MARKETSCOPE : Treasury bond values were continuing to rise early Friday, as investors continued moving into safe haven investments amid worries about U.S. politics.
The benchmark 10-year Treasury note was up 04/32 to 97-26/32 for yield of 4.536%, while the 30 year bonds were up 08/32 at 109-07/32 for yield of 4.750%.
Investors fretted about possible indictments in Washington, amid a grand jury investigation into the leak of a Central Intelligence Agency employee's name. Meanwhile news hit Thursday that White House Counsel Harriet Miers has withdrawn her nomination as Supreme Court nominee. Adding to political tensions, the Senate announced plans to investigate why energy prices have been so high.
It wasn't all bad news. The release of the third quarter Gross Domestic Product showed it rising more than the expected 3.8%, while third quarter Employment Costs rose 0.6% as expected.