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NEW YORK (AP) _ Bond prices fell slightly Wednesday, undercut by a rising stock market.
The price of the benchmark 10-year Treasury note fell 1/8 point, or $1.25 per $1,000 in face value. Its yield, which moves in the opposite direction, rose to 5.05 percent compared with 5.04 percent late Tuesday.
The 30-year Treasury bond fell 13/32 point to yield 5.66 percent, up from 5.63 percent a day earlier, according to Moneyline Telerate.
The stock indexes rose for the first session in a week, which drew some money out of the bond market.
In other trading, the benchmark 2-year note was unchanged from Tuesday, yielding 3.15 percent. Intermediate maturities fell between 1/16 point and 3/32 point.
Yields on one-month Treasury bills were 1.74 percent as the discount fell 0.01 percentage point to 1.71 percent. Yields on three-month Treasury bills were 1.74 percent as the discount fell 0.01 percentage point to 1.72 percent. Six-month yields were 1.89 percent, as the discount was unchanged at 1.85 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 1.75 percent late Wednesday.
In the tax-exempt market, the Bond Buyer index of 40 actively traded municipal bonds fell 3/32 to 104 2/32. The average yield to maturity rose to 5.34 percent from 5.33 percent.