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Treasury Bond Prices Rise

December 12, 1997

NEW YORK (AP) _ Treasury bond prices were rising at midday, pushing long-term yields further below 6 percent to levels last seen nearly two years ago, as a government report of declining wholesale prices helped relieve inflation jitters.

The price of the Treasury’s main 30-year bond was up 21-32 point, or $6.56 per $1,000 in face value, in afternoon trading, while its yield fell to 5.94 percent from 5.99 percent late Thursday. Prices and yields move in opposite directions.

Short-term bills were mixed.

Yields on three-month Treasury bills rose to 5.20 percent as the discount rose 0.04 percentage point from late Thursday to 5.07 percent. Six-month yields held at Thursday’s late rate of 5.36 percent as the discount was unchanged at 5.16 percent. One-year yields fell to 5.42 percent as the discount fell 0.02 point to 5.15 percent.

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

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