Treasurys up before auction, Bernanke testimony
On
February 10, 2010
NEW YORK (MarketWatch) — Treasury prices rose early Wednesday, pushing yields down, as analysts expect decent demand for the government’s sale of 10-year notes during the session. Traders will also tune in to the prepared Congressional testimony from Federal Reserve Chairman Ben Bernanke, even though his live meeting has been cancelled due to snow. Yields on 10-year notes fell 2 basis points to 3.62%. Further supporting bonds, despite higher equities amid more confidence that Greece will be rescued, the Bank of England lowered its inflation forecast and said more debt buying may be necessary.
Originally from MarketWatch
