Treasury Prices Fall

Treasury Prices Fall

S&P MARKETSCOPE: Treasuries fell hard Wednesday, as an asset allocation shift out of equities yesterday into the safety of bonds was reversed.

The 10-year note tumbled 14/32 to 95-17/32 for a yield of 5.08%. The 30-year bond sank 30/32 to 93-14/32 for a yield of 5.19%.

Credit rating downgrades, or warnings of possible downgrades, yesterday on mortgage-backed securities related to the subprime space did not have a lasting impact. Elsewhere, crude oil and gold futures fell.

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