Bond Prices Mixed in Quiet Trading
NEW YORK (AP) _ Bond prices were mixed in quiet trading Monday.
The price of the benchmark 10-year Treasury note fell 1/16 point, or 63 cents per $1,000 in face value. Its yield, which moves in the opposite direction, rose to 5.10 percent compared with 5.09 percent late Friday.
The 30-year Treasury bond rose 5/32 point to yield 5.53 percent, down from 5.54 percent a day earlier, according to Bridge Telerate news service.
Short-term and intermediate maturity Treasury securities were also mixed.
Yields on three-month Treasury bills were 3.54 percent as the discount rose 0.01 percentage point to 3.47 percent. Six-month yields were 3.48 percent, as the discount was unchanged from late Friday at 3.37 percent. One-year yields were 3.43 percent as the discount was unchanged at 3.33 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, rose to 3.81 percent from 3.75 percent.
In the tax-exempt market, the Bond Buyer index of 40 actively traded municipal bonds rose 5/32 point to 105 27/32. The average yield to maturity fell to 5.26 percent from 5.27 percent.