Treasurys little changed after mixed economic news

AP News
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Posted: Feb 28, 2012 4:48 PM
Treasurys little changed after mixed economic news

Treasurys prices were little changed Tuesday as traders weighed a mixed batch of economic reports.

The price of the 10-year Treasury note dropped 12.5 cents for every $100 invested. The yield edged up to 1.94 percent from 1.93 percent late Monday. Shorter-dated Treasurys were nearly all unchanged.

The Commerce Department said Tuesday that businesses cut back on purchases of machinery and equipment in January. Orders for long-lasting manufacturing goods fell 4 percent, the largest amount in three years.

Traders usually buy Treasurys on signs of economic weakness. But a separate report showed consumer confidence rising in February, despite a surge in gas prices.

In other trading, the 30-year bond fell 37.5 cents for every $100. The dip in price pushed the yield to 3.07 percent, up from 3.04 percent. The yield on the two-year note was unchanged at 0.30 percent.

In the market for short-term bills, the three-month T-bill paid a yield of 0.10 percent.