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Business & Finance

10Y notes flat after consumer confidence data

NEW YORK : The price of benchmark US 10-year Treasury notes turned flat on Tuesday, trimming losses after news of an u
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By Imad Uddin
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treasury-notesNEW YORK: The price of benchmark US 10-year Treasury notes turned flat on Tuesday, trimming losses after news of an unexpectedly steep drop in consumer confidence fueled worries of an economic slowdown.

The Conference Board said its index of US consumer sentiment fell to 60.8 from a revised 66.0 in April and below economists' forecasts for 66.5.

Benchmark 10-year notes last traded up 1/32 in price from its 3 p.m. close on Friday. with a yield of 3.06 percent. Shortly before the release of the consumer confidence report the 10-year notes were down 4/32 in price with a yield of 3.07 percent.

US financial markets were closed on Monday in observance of Memorial Day.

 

Copyright Reuters, 2011

 

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