Treasury Bond Prices Rise
Dec. 01, 1998
NEW YORK (AP) _ Treasury bond prices were higher at midday.
The price of the Treasury's main 30-year bond was up 9-32 point, or $2.81 per $1,000 in face value, around midday, while its yield fell to 5.05 percent from 5.06 percent late Monday. Prices and yields move in opposite directions.
Yields on three-month Treasury bills fell to 4.48 percent from Monday's auction as the discount lost 0.04 percentage point to 4.38 percent. Six-month yields dropped to 4.48 percent from Monday's auction as the discount sank 0.11 percentage point to 4.33 percent. One-year yields fell to 4.42 percent as the discount fell 0.07 percentage point to 4.24 percent.
Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.