Treasury Prices Fall After Economic Data News
MARKETSCOPE: Treasury bond prices ended lower on Thursday, after news about various economic data releases.
The benchmark 10-year notes were yielding 4.46%, compared to 4.44% at Wednesday's close. When yields rise prices fall.
News hit that the U.S. Consumer Price Index, which rose 0.2% in October, fell 0.6% in November, the largest drop in 56 years. Initial Jobless Claims rose 1,000 to 329,000 in the week ended Dec. 10 from 328,000 in week before. The New York Fed's Empire State manufacturing index rose to 28.7 in December -- even after jumping 10 points to 22.82 in November.
The Philadelphia Fed Index rose to 12.6 in December from 11.5 in November. The Freddie Mac 30-year fixed-rate mortgage (FRM) averaged 6.30% last week, down last week's 6.32% but up from 5.68% in same week a year ago. November Industrial Production rose slightly more than the expected 0.7%, after rising 1.3% in October (revised from 0.9% in October.)