Posted by
boxflyz About Econ on Tuesday, July 10, 2007 9:55:41 PM
FED Chair Ben Bernanke did rates a favor when he spoke this afternoon. He kept his speech on inflation purely academic. According to the wires he did not comment on the current situation.
The bond market responded by strengthening the rally. The 10-year Treasury closed with the rate -.121% ant the rate at 5.038%. That rate is approaching the 5.000% psychological floor. The price on the benchmark 10-year moved almost a whole point, closing +29/32 to 95&30/32nds.