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U.S. Treasury Prices Fall

May 18, 2004

NEW YORK (AP) _ Treasury bond prices were lower at midday Tuesday.

The price of the Treasury’s 10-year note was down 3/8 point, or $3.75 per $1,000 in face value, while its yield rose to 4.74 percent from 4.69 percent late Monday. Prices and yields move in opposite directions.

The 30-year bonds were down 15/32 point and yielded 5.46 percent, up from 5.43 percent late Monday, according to Moneyline Telerate.

Two-year Treasury notes were down 1/8 point and yielded 2.53 percent, up from 2.48 percent late Monday.

Yields on one-month Treasury bills were 0.89 percent as the discount rose 0.01 percentage point to 0.88 percent. Yields on three-month Treasury bills rose to 1.06 percent as the discount rose 0.06 percentage point to 1.04 percent. Six-month yields rose to 1.37 percent as the discount rose 0.05 percentage point to 1.34 percent.

Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.

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