Treasuries Head Lower
S&P MARKETSCOPE (8/22/07, 08:09am EDT): Treasurys heading lower in an unwinding of safe haven flows, possibly as result of heavy injections of cash in the banking system by central banks. Also, WSJ reports Fed hopeful its recent steps, including a discount rate cut, would restore some calm the markets. The 3-month Treasury bill, which fell below 3% earlier in the week, is up to 3.525%. This comes as Washington Post/ABC News comsumer comfort index plunged and the MBA mortgage applications index fell. The 2-year notes is off 05/32 to 100-30/32 for yield of 4.120%, the 10-year note is down 09/32 to 100-31/32 for yield of 4.633% and the 30-year bond is down 08/32 to 100-18/32 for yield of 4.967%.
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