Treasurys Higher after PPI
From Standard & Poor's Equity Research MARKETSCOPE: Bonds wewre higher Tuesday morning as traders digested two economic reports. U.S. PPI fell 1.3% in September thanks to a 22.2% plunge in gas prices but the core rate rose 0.6%,reversing the 0.4% slide in August. On a year-over-year basis, the core rate rose to 1.2% from 0.9% in August while the headline rate slowed toa 0.9% from 3.7% in August. Energy prices fell 8.4%, food prices rose 0.7%, capital equipment prices gained 0.6%. Passenger carprices rose 2.8%.
Meanwhile, the Treasury Dept. reported that foreigners bought a record $116.8 billion in U.S. assets in August compared to $32.9 billion in July.