Bond prices still up after Mubarak’s resignation

By Associated Press
Posted Feb. 11 at 2:51 p.m.

Treasury prices are paring back earlier gains after Egypt’s President Hosni Mubarak’s resignation calmed investors.

The prices of the 10-year Treasury note rose 46.9 cents per $100 invested in Friday trading. Its yield, which moves in the opposite direction, fell to 3.65 percent from 3.71 percent late Thursday.

Prices rallied earlier as the supply pressure of the week’s auctions wore off. The Treasury sold $72 billion in three-, 10- and 30-year Treasurys this week, with the last auction on Thursday. Uncertainty surrounding Mubarak’s next move had led traders to flock to the safety of Treasurys and dump riskier investments like stocks.

Bond prices largely have been falling since November as better reports on the economy came out.

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