Treasury Prices Fall
MARKETSCOPE : The 10-year Treasury notes fell 09/32 to 99-25/32 for yield of 4.659% as the rises in the Philadelphia Fed index, Industrial Production and the NAHB housing index showed the economy still has some strength... the S&P Investment Policy Committee believes the housing slump might be over although tomorrow's October Housing Starts expected to fall 5.8% to a 1.67 million pace... a larger-than-expected starts number would sugest continued economic strength and put upward pressure on equity prices and bond yields... this morning's CPI report suggested inflation edging toward Fed's comfort zone... the 2-year note fell 02/32 to 100-02/32 for yield of 4.852%, 30 year bonds lost 17/32 at 96-10/32 for yield of 4.738%.
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