Treasury Prices Fall As Investors Take Profits
MARKETSCOPE : Treasury prices rose early Monday, after news that the Institute for Supply Management Nonmanufacturing index slipped.
The benchmark 10-year Treasury notes were yielding 4.99% at noon Eastern Daylight Time, after having hit 5.00% at 10:30 a.m. EDT. Yields fall when prices rise.
News hit that the U.S. Institute for Supply Management Nonmanufacturing index slipped to 60.1 in May, after climbing 3 points in the last two months to hit 63.0 in April.
Federal Reserve Chairman Ben Bernanke gives a 2:15 pm Eastern Daylight Time speech at an international banking conference.