Treasuries Finish Lower
S&P MARKETSCOPE: Nothing new impacting Treasuries Tuesday. The economic calendar was basically bare, and Fedspeak is in the blackout period that extends through the December 11 FOMC. That left bonds stuck in a narrow range, according to Action Economics. Credit concerns continued to dominate, keeping equities on shaky footing, and maintaining an underlying bid in Treasuries. News that a couple investment banks were busy downgrading the outlook on several large security firms amid deteriorating credit conditions cast a pall on stocks overnight and in early U.S. trading, and helped Treasuries climb before profit taking set in.
The 10-year note was down 05/32 at 103-04/32 for yield of 3.872%, and the 30-year was off 08/32 at 110-31/32 for yield of 4.337%.