Treasurys mixed after drop in unemployment claims

AP News
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Posted: Sep 29, 2011 4:36 PM
Treasurys mixed after drop in unemployment claims

Government bond prices were little changed Thursday after seesawing throughout the day.

A drop in unemployment claims sent Treasury prices lower in the morning, pushing their yields higher. Treasury prices rose back after a stock market rally faded in the afternoon.

The 10-year note is up 3.1 cents for every $100 invested as of 4 p.m. The yield slipped to 1.98 percent from 1.99 percent late Wednesday.

The 30-year bond is up 93.7 cents. The yield dropped to 3.02 percent from 3.08 percent late Wednesday. The two-year inched up to 0.26 percent from 0.25 percent.

The Treasury Department sold $29 billion in seven-year notes at a yield of 1.49 percent. Investors placed bids for 3.02 times the amount up for sale, better than the 2.80 average for the last four.

The yield on the three-month T-bill was 0.01 percent, unchanged from late Wednesday. Its discount wasn't available.