Yield up 11 BPS to 4.05%
By MortgageDaily.com staff
6/10/2005

The 10-year Treasury note soared after markets received data that economic growth is not slowing down.

The note yield closed at 4.05% Friday -- rising 11 basis points today, according to MarketWatch. The price was down 0.84 to 100.59.

Prior to the release of April trade gap figures, which dismissed the notion that the economic softness seen in March has persisted, the 10-year Treasury note yielded 3.98%, the publication said.

On Friday, Treasuries had reportedly been selling under pressure for three straight days. Among the pressures were Thursday's remarks by Federal Reserve Chairman Alan Greenspan, who suggested the quarter-point rate increases in the federal funds rate target were likely to continue.

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