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Treasury Bond Prices Move Higher

May 18, 1999

NEW YORK (AP) _ Treasury bond prices were higher at midday as Federal Reserve policymakers met behind closed doors.

The price of the benchmark 30-year Treasury bond gained 13/32 point, or $4.06 per $1,000 in face value. Its yield, which moves in the opposite direction, fell to 5.89 percent from 5.92 percent late Friday.

Yields on three-month Treasury bills auctioned Monday fell to 4.65 percent as the discount dropped 0.04 percentage point to 4.53 percent. Six-month yields fell to 4.78 percent as the discount lost 0.02 percentage point to 4.60 percent. One-year yields slipped to 4.84 percent as the discount gave up 0.01 percentage point to 4.61 percent.

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

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