Treasury yields fall on weak retail sales report |
| The Associated Press - Aug 13, 2010 |
Interest rates fell in light trading in the Treasury market Friday after a retail sales report missed economists' expectations.
The price of the Treasury's 10-year note rose 62.5 cents to $99.563, while its yield is 2.68 percent, down from 2.75 percent late Thursday.
Stocks fluctuated Friday after the Commerce Department's mixed readings on consumer spending showed retail sales rose 0.4 percent in July. That's an improvement but below economists' forecast of a gain of 0.5 percent.
The report did show strength in auto sales, but it also showed that consumers are shying away from other purchases.
Interest rates in the Treasury market have tumbled this week as traders take a bleaker view of the U.S. economy and move their money from stocks into the safety of government securities. Consumer spending has remained weak along with the labor market, and there are no signs that employers are ready to start hiring at a pace to help lift the economy.
Read Full Article from The Associated Press
- Posted: 2010-08-13 20:55:13
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