![]()
- China Hires Foreigners to Manage Forex Reserves
- Cutting Jobless Will Take Time: White House's Summers
- GE, Vivendi Agree to Value NBCU Stake at $5.8 Billion
- Tuesday's ISM in Focus as Bulls Call for Turn in Dollar
- Arrest Imminent in Florida Ponzi Case: Report
- Cramer: Dubai Can’t Sink These 6 Dividend Stocks
- White House to Crank Up Pressure on Mortgage Industry
- Treasury Threatens Banks, Not Borrowers
- Good Sign for the Economy: 'Greed' Makes a Comeback
- Treasury Threatens Banks, Not Borrowers
- We're Approaching a Market Bubble: Portfolio Manager
- Hershey Shares: What Options Are Saying
- Nov. 30: Unusual Volume Leaders
- Why Careful Shoppers Are Great for the Box Office
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- Best Online Retailers to Buy Now: Internet Analyst
- ESPN The Magazine’s Body Issue: A Financial Success
- Cyber Monday: The Last Vestige of Dotcom Hype
MOST SHARED
- Timeless and Time-Tested Warren Buffett Watch Predictions
- Dubai World Set to Restructure About $26 Billion of Total Debt
- Dubai Stocks Could Fall a Further 30%: Charts
- Good Sign for the Economy: 'Greed' Makes a Comeback
- Dubai Markets Open Sharply Lower for Second Day
- Should Homeowners Be Able To Walk Away From Mortgage?
- Bove: 26 Banks May Need To Raise More Capital
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- Treasury Threatens Banks, Not Borrowers
- Notre Dame Fires Charlie Weis After 5 Seasons
Treasury debt prices rose as traders reinvested cash from a record amount of maturing federal government bonds into Treasurys amid persistent worries about the economy.
Analysts estimated the government will give about $70 billion back to investors with government securities that matured this week. Investors, in turn, decided to allocate a portion of the hefty sum to Treasurys, analysts said.
"Cash is certainly there to chase Treasurys. You also have hit some pretty good (technical) support," said Brian Edmonds, head of rates trading at Cantor Fitzgerald in New York.
Investors' appetite for Treasurys also was stoked by economic jitters. Oil surged to a series of record high prices this week, breaking above $123 a barrel Wednesday, and financial companies disclosed a fresh round of write-downs and losses stemming from their subprime mortgage exposure, analysts and traders said.
"The problems are not over," said James Caron, co-head of global rates research with Morgan Stanley in New York.
Credit and economic concerns overshadowed a firm stock market and a relatively weak auction of 10-year notes Wednesday, analysts said.
Traders also brushed off Thursday's government data showing a decline in U.S. jobless claims, which came within analyst expectations.
The $70 billion in proceeds is the biggest ever for quarterly refunding, according to Lew Crandall, chief economist at Wrightson ICAP, in Jersey City, NJ.
The Treasury Department was scheduled to add $6 billion to prior 30-year bond issue later Thursday. The results on the reopening, part of this week's government quarterly refunding, will be announced shortly after 1 pm.
The price on the 30-year or long bond was up 13/32 at 96-18/32. Its yield which moves inversely with its price, was 4.60 percent, down from 4.61 percent late Wednesday.
The benchmark 10-year note's price last traded 11/32 higher for a yield of 3.83 percent, down from 3.87 percent late Wednesday.
Among shorter maturities, two-year notes were up 4/32 in price for a 2.25 percent yield, down from 2.32 percent late Wednesday, while five-year notes last traded up 9/32 for a 3.01 percent yield, down from 3.09 percent.
US government debt prices rose, as traders plowed cash from this week's government quarterly refunding back into Treasurys.
The price on benchmark 10-year Treasury notes last traded up 5/32 at 100-7/32. Their yield which move inversely with their price was 3.85 percent, down from 3.87 percent late Wednesday.
- Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
- UPS is giving its customers the option to offset its carbon emissions when sending a package.
- Romania's presidential campaign has been rocked by a video that may show the president striking a 10-year-old boy.
- Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
- A recent issue of ESPN Magazine was one of its top sellers ever, and it only took scantily clad athletes to make it happen.
- The continued real estate boom in China is partially fueled by a generational flood of newlyweds.










