Treasury Prices Climb As Investors Seek Safety
MARKETSCOPE : Treasury prices rose on Tuesday, as investors watched rising energy prices and covered shorts after the market's sell-off last week.
The benchmark 10-year note rose 06/32 to 96-22/32 for a yield of 4.93%, while the 30-year bond climbed 10/32 to 92-10/32 for a yield of 5.00%.
Investors continued making their bets on interest rates, which have risen steadily in recent years and current stand at 4.75%. The Federal Open Market Committee meets again on May 10.
"Our best guess remains that the FOMC will stop its rate hike process after moving to a 5% funds rate target on May 10," says Jan Hatzius, of Goldman Sachs in New York.