Silverbird
Well-known member
NEW YORK - Long-term Treasury prices turned lower Thursday after Standard & Poor's Ratings Services said financial firms may be nearing the end of write-downs of subprime asset-backed securities....
....The statement initially encouraged investors to pull back from a Treasury rally and venture into some of the riskier assets that have been out of favor throughout the subprime crisis...
Prices also were depressed by a disappointing auction of $10 billion in 10-year notes. Bids from domestic accounts and foreign central banks were well below average.
The poor auction results play into fears that foreign bidders are moving away from dollar-denominated assets like Treasurys and seeking instruments in the higher-yielding euro and Swiss franc. The dollar hit a new low against the euro.....
There is strong concern that the commodities rally has intensified inflation at the same time that the economy is slowing. The bond market abhors inflation because it erodes the value of fixed income.....
http://www.cnbc.com/id/5990199/for/cnbc/
....The statement initially encouraged investors to pull back from a Treasury rally and venture into some of the riskier assets that have been out of favor throughout the subprime crisis...
Prices also were depressed by a disappointing auction of $10 billion in 10-year notes. Bids from domestic accounts and foreign central banks were well below average.
The poor auction results play into fears that foreign bidders are moving away from dollar-denominated assets like Treasurys and seeking instruments in the higher-yielding euro and Swiss franc. The dollar hit a new low against the euro.....
There is strong concern that the commodities rally has intensified inflation at the same time that the economy is slowing. The bond market abhors inflation because it erodes the value of fixed income.....
http://www.cnbc.com/id/5990199/for/cnbc/
