BLBG: U.S. Treasuries Gain, Pushing 2-Year Yields Down Most in 3 Days
By Dakin Campbell
Nov. 3 (Bloomberg) -- Treasuries rose, pushing yields on U.S. two-year notes down the most in three days, as U.S. stock futures declined.
Futures on the Standard & Poor's 500 Index retreated 0.3 percent.
``For the bulk of the week you will see much weaker economic news than people expect,'' said Tom Tucci, head of U.S. government bond trading in New York at RBC Capital Markets, the investment-banking arm of Canada's biggest lender. ``People are looking to buy the market again.''
Two-year note yields declined 6 basis points, or 0.06 percentage point, to 1.50 percent at 9:06 a.m. in New York, according to BGCantor Market Data. The price of the 1.5 percent security maturing in October 2010 gained 3/32, or 94 cents per $1,000 face amount, to 100.
Yields on 10-year notes fell 5 basis points, the first decline in six days, to 3.91 percent.
To contact the reporter on this story: Dakin Campbell in New York at dcampbell27@bloomberg.net
