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Treasury Bond Prices Fall

June 10, 1999

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

The price of the Treasury’s main 30-year bond was off 1/2 point, or $5 per $1,000 in face value, around midday, while its yield rose to 6.06 percent from 6.02 percent late Wednesday. Prices and yields move in opposite directions.

Yields on the 30-year bond finished Wednesday at their highest level in 13 months, amid growing belief that the Federal Reserve will raise interest rates at its meeting later this month.

Yields on three-month Treasury bills rose to 4.67 percent as the discount rose 0.08 percentage point to 4.55 percent. Six-month yields rose to 5.02 percent as the discount added 0.05 percentage point to 4.83 percent. One-year yields rose to 5.12 percent as the discount gained 0.03 percentage point to 4.87 percent.

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

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