Treasury Prices Decline

Treasury prices were taking a downturn Wednesday, especially on the longer end, after a government report showed consumer-level inflation running at a slightly faster pace than analysts expected.

The 10-year note was falling 6/32 in price to 99 12/32, raising the yield to 4.70%. Prices and yields move in opposite directions. The 30-year bond was off 10/32 to 99 7/32, yielding 4.80%.

As for the shorter-term notes, the two-year was down 2/32 to 100 1/32, yielding 4.85%, and the three-year was falling 3/32 to 100 and yielding 4.74%. The five-year was giving up 4/32 to 100 8/32, yielding 4.69%.

In the currency market, the dollar was mostly weaker. The greenback rose against the yen and the Australian dollar, but surrendered ground to the euro, the pound, the Swiss franc and the Canadian dollar.