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.