MW: Treasurys under pressure as auto bailout hope lifts stocks
By Nick Godt
NEW YORK (MarketWatch) -- Treasurys were under pressure early on Wednesday, sending yields higher, as stocks were set for a higher opening amid reports of progress on a bailout of the U.S. auto industry. Yields on the benchmark 10-year Treasury bond rose 7 basis points to 2.725%, while those on the 30-year bond were up 6 basis to 3.106%. Yields on two-year notes were up 7 basis points to 0.917%. News reports said the White House and congressional Democrats have reached an agreement in principle on a $15 billion bailout plan late Tuesday.
