Long Bond Trades Higher, but Other Maturities Slip

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Treasuries were slightly lower with the exception of the long bond after a report showed that consumers have high expectations about the future and separate data pointed to strong existing homes sales in October.

Around midday Tuesday, the two-year note was off 2/32 to 99 5/32, yielding 3.21%. The five-year was down 3/32 to 95 30/32, yielding 4.42%. The 10-year was slipping 1/32 to 99 27/32 to yield 5.02%, but the 30-year bond, which is being discontinued, broke the trend and traded up 11/32 to 100 9/32, yielding 5.36%.