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Treasury Bond Prices Fall

March 3, 1998

NEW YORK (AP) _ Treasury bond prices moved lower by midday.

The price of the Treasury’s main 30-year bond was off 11-16 point, or $6.87 1/2 per $1,000 in face value, around midday, while its yield rose to 6.06 percent from 6.00 percent late Monday. Prices and yields move in opposite directions.

Yields on three-month Treasury bills fell to 5.21 percent from Monday’s auction level as the discount lost 0.02 percentage point to 5.08 percent. Six-month yields rose to 5.33 percent as the discount added 0.01 percentage point from Monday’s auction level to 5.13 percent. One-year yields rose to 5.42 percent as the discount gained 0.02 percentage point to 5.15 percent.

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

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