NEW YORK (AP) _ Bond prices were little changed on Thursday, with long-term Treasuries adding slightly to the prior day’s big gains. Shorter-term debt securities edged lower.
The price of the benchmark 10-year Treasury note rose 1/32 point, or $0.31 per $1,000 in face value. Its yield, which moves in the opposite direction, held steady at 4.18 percent compared with late Wednesday.
The 30-year Treasury bond rose 1/8 point to yield 5.09 percent, also unchanged from Wednesday, according to Moneyline Telerate.
There were no major economic reports to drive the bond market, which rose sharply on Wednesday following this week’s decision by the Federal Reserve to leave the central bank’s interest rates unchanged.
In other trading, the benchmark 2-year note declined by 1/16 to yield 1.64 percent. Intermediate maturities slipped between 1/16 point and 3/32 point.
Yields on one-month Treasury bills were unchanged at 0.88 percent while the discount held steady at 0.86 percent. Yields on three-month Treasury bills were 0.95 percent with a discount of 0.93 percent, both unchanged. Six-month yields were steady at 1.02 percent, as the discount edged 0.01 percentage point higher to 1.00 percent.
Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.
The federal funds rate, the interest on overnight loans between banks, was unchanged at 1.00 percent.
In the tax-exempt market, the Bond Buyer index of 40 actively traded municipal bonds rose 1/16 point to 109 1/8. The average yield to maturity held steady at Wednesday’s level of 5.06 percent.