BLBG: Treasuries Decline for Sixth Consecutive Day After Durable-Goods Increase
Treasuries remained lower after a government report showed that orders for durable goods in September rose more than economists forecast.
The benchmark 10-year note fell for a sixth straight day as investors have increased their focus on the risks of inflation on speculation that the Federal Reserve will boost purchases of U.S. debt.
The yield on the 10-year note increased 6 basis points, or 0.06 percentage point, to 2.70 percent at 8:34 a.m. in New York, according to BGCantor Market Data. The price of the 2.625 percent security maturing in August 2020 dropped 16/32, or $5 per $1,000 face amount, to 99 11/32.
Bookings for U.S. goods meant to last at least three years excluding transportation items increased 3.3 percent last month after dropping 1.3 percent in August, the Commerce Department reported today. The median forecast of 76 economists in a Bloomberg News survey was for an increase of 2 percent.
To contact the reporter on this story: Daniel Kruger in New York at dkruger1@bloomberg.net;
To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net
