Treasurys nearly unchanged as economic hope rises

AP News
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Posted: Jul 18, 2012 5:24 PM
Treasurys nearly unchanged as economic hope rises

U.S. Treasury securities ended Wednesday nearly unchanged after a strong stock market rally tied to hopes about corporate profits and the housing market.

Intel reported a big jump in second-quarter earnings, lifting other technology stocks. The Dow Jones industrial average closed up 103 points.

The government said builders broke ground last month on the most new homes and apartments in four years.

Despite the lure of riskier investments, ultra-safe Treasurys remain popular with investors still fretting about the European debt crisis. Leaders there appear to be squabbling again, postponing hopes for a lasting solution.

The price of the 10-year Treasury note rose 9 cents for every $100 invested, leaving its yield at 1.50 percent, unchanged from late Tuesday.

The price of the 30-year Treasury bond rose 13 cents for every $100 invested, leaving its yield nearly unchanged at 2.59 percent.

The yield on the two-year Treasury note fell to 0.23 percent from 0.25 percent. The yield in the three-month T-bill fell to 0.09 percent from 0.10 percent.