Treasury Prices Fall Ahead of FOMC Minutes

From Standard & Poor's Equity Research

MARKETSCOPE : Treasury prices sank on Tuesday, as investors awaited the release of minutes detailing the Federal Open Market Committee's meeting in August.

The benchmark 10-year Treasury notes were yielding 4.82% at noon Eastern Daylight Time from 4.79% yield at the previous session's close. The 30 year bonds yielded 4.97% from 4.93% Monday. Yields rise when prices fall.

News hit that the Conference Board's Consumer Confidence index plunged more than expected to an eight-month low of 99.6 in August after increasing over the last few months to 107.0 in July. Markets expected a much more modest decline to 103.0.

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