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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
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S&P National Bond Index
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3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
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3.13% |
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S&P National 0-5 Year Municipal Bond Index
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0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
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848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
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1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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TREASURIES-Bonds dip on economic optimism, trade is thin |
* Optimism over economy saps debt's safe-haven appeal
* Price falls exaggerated by thin trading volume
* Government revises down Q3 growth estimate (Adds economist's quote, updates prices)
By Chris Reese
NEW YORK, Dec 22 (Reuters) - U.S. Treasury debt prices fell for a second straight day on Tuesday as some optimism over an economic recovery had investors turning to riskier assets like stocks and away from lower-risk government debt.
Limiting some Treasuries losses was government data showing the U.S. economy grew at a slower pace than originally thought in the third quarter.
Analysts said, though, that price moves were exaggerated by the very thin trade in a holiday-shortened week.
"We are not unsympathetic to the notion that the market is pricing in more economic optimism in the New Year," said David Ader, head of government bond strategy at CRT Capital Group in Stamford, Connecticut. "The thin liquidity conditions aided in exaggerating the down trade," he added.
The benchmark 10-year Treasury note US10YT=RR was trading 12/32 lower in price to yield 3.73 percent, up from 3.68 percent late on Monday. Benchmark yields climbed to as high as 3.75 percent early on Tuesday, marking the loftiest since mid-August.
The Treasury yield curve remained at record steep levels, with the spread between two-year note yields and 10-year note yields holding at its widest on record at 284 basis points.
The shorter-end of the yield curve was supported by expectations the Federal Reserve will maintain interest rates near zero well into next year, while longer-dated Treasuries were being hit by some worries about rising inflation if an economic recovery really takes hold.
On Tuesday the U.S. Commerce Department's final estimate showed gross domestic product grew at a 2.2 percent annual rate in the third quarter, down from a previous estimate of 2.8 percent growth. [ID:nN21231124]
"The mix of growth is not as good as previously thought," said Christopher Low, chief economist with FTN Financial in New York.
Traders were now looking ahead to the release of existing homes sales data for November at 10:00 a.m. (1500 GMT) with sales expected to have grown by 2.9 percent.
Meanwhile, two-year Treasury notes US2YT=RR were trading unchanged in price to yield 0.88 percent, while the 30-year bond US30YT=RR was 18/32 lower in price to yield 4.60 percent, up from 4.56 percent late on Monday. (Additional reporting by Richard Leong; Editing by Padraic Cassidy)
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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