Treasury Yields Slip After Auctions As Stocks Gain

NEW YORK (AP) — Investors made few moves in the Treasury market Friday, relieved that another week of auctions has come to an end.

Treasury yields slipped from Thursday when the government wrapped up $81 billion of debt auctions with its issue of $16 billion of 30-year bonds. Auctions for three-year and 10-year notes earlier in the week were better received, but the 30-year bond auction went largely as expected.

In late trading, the price of the benchmark 10-year Treasury note rose 6/32 to 99 18/32. Its yield fell to 3.43 percent from 3.45 percent Thursday.

Investors have kept close watch on bond auctions this year, fearful that at some point the market's appetite for Treasurys could wane given the record amount of debt the government is selling to fund its economic stimulus programs. So far, the auctions have gone relatively smoothly.

The quiet trading in bonds came as positive reports from The Walt Disney Co. and retailers Abercrombie & Fitch Co. and J.C. Penney Co. offset a weak reading on consumer confidence. The reports helped lift stocks. The Dow Jones industrials rose 73 points after falling 93 points a day earlier on concerns over weak energy demand.