Treasury Prices Move Lower
MARKETSCOPE (08/29/2007 7:49am EDT): Bonds lower as U.S. stocks indicated to open higher in a rebound from yesterday's late selloff. But see debt recovering as there much talk today about risk aversion. There are also reports that Cheyne Capital, a London based hedge fund, reported it was to begin winding down following losses in one of its SIVs. Yesterday, State Street was identified as having exposure to $22 billion worth of ABCP conduits while Barclays were also noted as likely to suffer losses. No economic reports today. GDP revision tomorrow. And Bernanke speaking on housing and monetary policy at Jackson Hole, Wyo. on Friday. The 2-year Treasury note is down 02/32 to 100-30/32 for yield of 4.111%, the 10-year note is down 03/32 to 101-28/32 for yield of 4.520% and the 30-year bond is down 05/32 to 102-10/32 for yield of 4.857%.
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