Treasury prices are little changed

AP News
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Posted: May 25, 2011 5:13 PM
Treasury prices are little changed

Treasurys prices were little changed Wednesday after a successful auction of five-year notes and a decline in durable goods orders.

The price of the 10-year Treasury note fell 6.25 cents per $100 invested in late Wednesday trading. Its yield rose to 3.13 percent from 3.11 percent late Tuesday. The yields on shorter-term Treasurys slipped Wednesday, while the yield on the 30-year bond edged higher.

The Treasury sold $35 billion in five-year notes at a yield of 1.75 percent. That marked the lowest yield of the year. Investors placed bids for 3.2 times the amount offered, higher than the four previous auctions this year.

The yield of the five-year note was 1.77 percent late Wednesday.

The government also said that businesses reduced orders in April by the largest amount in six months for heavy machinery, computers, autos and airplanes.

In other trading, the price of the 30-year bond fell 37.5 cents per $100 invested, while its yield rose to 4.27 percent from 4.25 percent late Tuesday. The yield on the two-year note rose to 0.54 percent from 0.50 percent.

The yield on the three-month T-bill was unchanged at 0.04 percent. Its discount was 0.05 percent.