Treasuries Fall After News of Consumer Sentiment
MARKETSCOPE : Treasury prices fell on Friday, after news about consumer sentiment and business inventories.
The 10-year Treasury notes fell 17/32 to 99-23/32 for yield of 4.535%, while the 30-year bonds fell 31/32 to 109-10/32 for yield of 4.736%.
News hit that the University of Michigan's preliminary index of consumer sentiment rose 88.7 in December from 81.6 in November. It had hit 74.2 in October, its 13-year low amid recent hurrican damages. Meanwhile October Wholesale Inventories rose 0.2%, after rising 0.6% in September.
Investors continued watching the U.S. economy and inflation as they made their bets on interest rates. The Federal Open Market committee meets on Tuesday, after having raised rates 12 times since 2004 in an effort to control inflation by making debt more expensive.