Most Bond Prices Fall
Feb. 27, 1998
NEW YORK (AP) _ Treasury bond prices were mostly lower at midday, sending long-term yields inching back toward 6 percent.
The price of the Treasury's main 30-year bond was down 13-32 point, or $4.06 per $1,000 in face value, in early afternoon trading, while its yield rose to 5.98 percent from 5.95 percent late Thursday. Prices and yields move in opposite directions.
Yields on three-month Treasury bills rose to 5.32 percent as the discount rose 0.01 percentage point from late Thursday to 5.19 percent. Six-month yields rose to 5.33 percent as the discount rose 0.03 percentage point to 5.13 percent. One-year yields rose to 5.41 percent as the discount rose 0.02 point to 5.14 percent.
Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.