NEW YORK (AP) — Treasurys prices are little changed as traders weighed a mixed batch of economic reports.
The price of the 10-year Treasury note dropped 12.5 cents for every $100 invested in Tuesday afternoon trading. The yield edged up to 1.94 percent from 1.93 percent late Monday. Shorter-dated Treasurys were nearly all unchanged.
The Commerce Department said Tuesday that businesses cut back on purchases of machinery and equipment in January. Orders for long-lasting manufacturing goods fell 4 percent, the largest amount in three years.
Traders usually buy Treasurys on signs of economic weakness. But a separate report showed consumer confidence rising in February, despite a surge in gas prices.
In other trading, the 30-year bond is down 53 cents. The dip in price pushed the yield to 3.08 percent, up from 3.04 percent.
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