MW; Treasurys post slight gains as stock futures slide
Treasury prices were mostly higher early Wednesday, as U.S. stock futures pointed to a lower opening and Morgan Stanley swung to a first-quarter loss, diminishing hopes that banks were positioned for a rebound. Yields on 10-year notes , which move in the opposite direction as prices, fell 2 basis points to 2.88%. Treasury Secretary Timothy Geithner has a speech on the economy scheduled, after saying on Tuesday that banks had adequate capital. Bond investors are also closely watching a taxable bond sale by California expected to price today and may top $4 billion.
