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Treasury Bond Prices Move Higher

July 30, 1998

NEW YORK (AP) _ Treasury bond prices were rising this afternoon.

The price of the Treasury’s main 30-year bond was up 17-32 point, or $5.31 per $1,000 in face value, in early afternoon trading, while its yield fell to 5.73 percent from 5.76 percent late Wednesday. Prices and yields move in opposite directions.

Yields on three-month Treasury bills held at 5.04 percent as the discount was unchanged from Wednesday’s late rate of 4.92 percent. Six-month yields held at 5.18 percent as the discount remained at 4.99 percent. One-year yields rose to 5.35 percent as the discount edged up 0.01 point to 5.09 percent.

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

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