Treasury Prices Fall
S&P MARKETSCOPE (09/04/2007): Treasures fell Tuesday as investment capital moved back into equities. The 10-year note fell 08/32 to 101-18/32 for a yield of 4.55%. The 30-year bond eased 04/32 to 102-20/32 for a yield of 4.83%. The asset allocation shift overshadowed weak August ISM (manufacturing) and lower July construction spending. Attention now turns to the July pending home sales index tomorrow morning and the Beige Book to the September 18th FOMC meeting in the afternoon.
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