Sunday, June 7, 2009

Treasuries Drop for 3rd Day on Signs Worst of Recession Is Over

Treasuries fell for a third day on speculation a government report this week on retail sales will add to signs the worst of the U.S. economic recession is over. Ten-year yields rose to highest level in seven months as the Treasury Department prepared to sell $65 billion in notes and bonds over the next three days, raising concern rates will have to increase to attract investors. Government securities have fallen 6.2 percent this year, heading for their first annual loss in a decade, according to Merrill Lynch & Co.’s U.S. Treasury Master index, as employment and manufacturing improve.
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