US treasuries little changed after Bernanke talk
08 Jun 2012
US treasuries were little changed yesterday after Federal Reserve chairman Ben Bernanke gave no sign the central bank would provide another boost to the economy soon.
However, in trading late yesterday, the 10-year treasury note was up 3.12 cents for every $100 invested. Its yield wavered throughout the trading day but ended unchanged from late Wednesday at 1.64 per cent.
Treasury yields were up in the morning trading, with China cutting its benchmark lending rate for the first time in four years, which sent stocks sharply higher.
The stock market rally petered out after Bernanke offered nothing in his testimony before Congress to make traders think an effort to stimulate the economy was on the way.
The 10-year yield had surged as high as 1.68 per cent in the morning, but was down in the afternoon.
In other trading, the price of the 30-year treasury bond was up 3.12 cents, its yield did not change from the day before at 2.73 per cent.
