Treasury Prices Rally Again

Treasury prices were surging again Thursday as soft economic data, combined with benign comments the last couple of days from Fed Chairman Ben Bernanke, gave traders no reason to expect more rate hikes.

The 10-year note was up 10/32 in price, yielding 4.70%, and the 30-year bond was rising 20/32, yielding 4.79%. The two-year note was up nearly 3/32, yielding 4.83%, and the five-year was ahead by 6/32 to yield 4.68%.

As for the currency market, the dollar slipped against the euro and the pound, but strengthened against the yen.