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Bonds End Lower

January 9, 2001

NEW YORK (AP) _ Bond prices ended lower Monday despite getting a boost during the day from weakness in the stock market.

The price of the benchmark 10-year Treasury note fell 5/32 point, or $1.56 per $1,000 in face value. Its yield, which moves in the opposite direction, rose to 4.96 percent compared with 4.92 percent late Friday.

The 30-year Treasury bond fell 23/32 point to yield 5.45 percent, up from 5.40 percent a day earlier, according to Bridge Telerate news service.

Bond prices had moved higher during the day as investors shifted money out of a faltering stock market, but with little to trade on, bonds ended the day slightly down.

In other trading, short-term Treasury securities rose 1/32 point, while intermediate maturities were down 3/16 point.

Yields on three-month Treasury bills were 5.21percent as the discount was unchanged at 5.05 percent. Six-month yields were 5.05 percent, as the discount fell 0.01 percentage point to 4.85 percent. One-year yields were 4.63 percent as the discount was unchanged from late Friday at 4.44 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 5.88 percent from 5.81 percent.

In the tax-exempt market, the Bond Buyer index of 40 actively traded municipal bonds rose 3/16 to 104 11/32. The average yield to maturity fell to 5.38 percent from 5.39 percent.

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