Treasury Prices Move Lower
Treasury prices moved lower Tuesday morning. The 10-year note was lower at 95-22/32 for a yield of 5.070%, while 30-year bonds were lower at 94-02/32 for a yield of 5.147%. Action Economics reports that a rebound in industrial production, firmer pre-open stocks and hot core PPI have all kept a floor under Treasury yields despite the wall of subprime worry. There remains some more housing data and Fedspeak from Hoenig on policy and the economy, however, this afternoon still to contend with.