Treasurys slide as stocks break a losing streak

AP News
Posted: May 21, 2012 4:20 PM
Treasurys slide as stocks break a losing streak

Treasury prices eased Monday as investors become more comfortable shifting money back into the stock market.

The yield on the benchmark 10-year Treasury note rose to 1.74 percent Monday from 1.71 percent Friday. Its price fell 16 cents for every $100 invested.

Stocks broke a six-day losing streak on encouraging news from China and an optimistic report from a group of economists. The Dow Jones industrial average rose 135 points to close at 12,504.

China said it would give a greater focus on encouraging growth than it had in the past, and the National Association for Business Economists showed that its forecasters expect modest growth for the remainder of the year.

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In other trading, the yield on the 30-year bond edged up to 2.81 percent from 2.80 percent. Its price fell 9 cents. The yield on the two-year note fell to 0.29 percent from 0.31 percent.

The three-month T-bill paid a yield of 0.07 percent.