Treasuries Fall for Sixth Day as Greek Yields Soar; Futures, Metals Drop
http://www.bloomberg.com/news/2010-10-2 ... akens.html
The 10-year Treasury note yield rose five basis points to 2.69 percent at 7:50 a.m. in New York, and Germany’s 10-year bund yield rose six basis points to 2.58. The extra yield investors demand to hold Greek 10-year bonds instead of German bunds widened 40 basis points to 756 basis points, the most since Oct. 8. Standard & Poor’s 500 Index futures sank 0.6 percent, while the Stoxx Europe 600 Index fluctuated. The S&P GSCI Index of 24 commodities fell 0.9 percent, led by cotton.
U.S. durable-goods orders probably climbed in September by the most in five months, according to a Bloomberg survey before today’s report. Reports yesterday showed consumer confidence rose more than expected and home prices unexpectedly increased, giving the Fed less reason to boost quantitative easing. The central bank may limit bond purchases to a few hundred billion dollars at next week’s meeting, the Wall Street Journal reported
Greek 10-year bonds tumbled for the third consecutive day, with the yield jumping 58 basis points to 10.34 percent. Last year’s budget deficit will be revised above 15 percent of gross domestic product by the European Union, Finance Minister George Papaconstantinou said today in Limassol, Cyprus. The nation has serious tax compliance issues, he said.