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Treasury prices extend gains on weak economic data

Treasury prices extend gains on weak economic data

More signs of a weak economy sent Treasury prices up and interest rates down again Friday.
A sharp drop in an indicator of consumer confidence was the latest blow to the U.S. economic outlook.
Consumer confidence fell in July to its lowest point in nearly a year, according to a survey by the University of Michigan and Reuters. The downbeat news came days after the Federal Reserve dialed down its estimate for long-term economic growth.
The yield on the 10-year Treasury note fell to 2.93 percent from 3 percent Thursday. That yield helps set interest rates on mortgages and other kinds of loans. The price of the note maturing in May 2020 rose 59.375 cents to $104.844.
In other trading, the yield on the 30-year bond fell to 3.94 percent from 3.99 percent. Its price rose 84.375 cents to $107.594.
The yield on the two-year note fell to 0.59 percent from 0.62 percent. Its price rose 3.125 cents to $100.063.
The yield on the three-month Treasury bill was unchanged at 0.14 percent. Its discount was 0.15 percent.


Updated : 2021-04-15 03:11 GMT+08:00