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Bond Prices Move Lower

August 23, 1999

NEW YORK (AP) _ Treasury bond prices were lower at midday.

The price of the Treasury’s main 30-year bond was down 4-32 point, or $1.25 per $1,000 in face value, around midday, while its yield rose to 5.99 percent from 5.98 percent late Friday. Prices and yields move in opposite directions.

Yields on three-month Treasury bills rose to 4.85 percent as the discount rose 0.04 percentage point to 4.73 percent. Six-month yields rose to 5.13 percent as the discount rose 0.05 percentage point to 4.93 percent. One-year yields rose to 5.17 percent as the discount rose 0.03 point to 4.91 percent.

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

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