US Treasury prices waver with Bernanke's talk

AP News
Posted: Jun 07, 2012 4:26 PM
US Treasury prices waver with Bernanke's talk

U.S. Treasurys were little changed Thursday after Federal Reserve Chairman Ben Bernanke gave no sign the central bank would provide another boost to the economy soon.

In late Thursday trading, the 10-year Treasury note rose 3.12 cents for every $100 invested. Its yield wavered throughout the trading day but ended at 1.64 percent, unchanged from late Wednesday.

Treasury yields rose in morning trading after China cut its benchmark lending rate for the first time in four years, sending stocks sharply higher. The stock market rally faded after Bernanke said little in his testimony before Congress to make traders think an effort to stimulate the economy was in the works. The 10-year yield climbed as high as 1.68 percent in the morning, then sank in the afternoon.

In other trading, the price of the 30-year Treasury bond rose 3.12 cents. Its yield was unchanged from the day before at 2.73 percent.

The yield on the two-year Treasury note slipped to 0.27 percent from 0.28 percent. The yield on the three-month Treasury bill was 0.08 percent.