TREASURIES-Bonds turn flat to higher, 3Y near session high
Published: 16 Jun 2009 17:35:00 PSTNEW YORK, June 16 - U.S. Treasury debt prices turned flat to higher on Tuesday, erasing earlier losses in the wake of bond-friendly data showing low inflation and weakness in factory output.
Three-year notes led the rise in short-dated notes after the Federal Reserve bought $5.9 billion in new three-year issues, making up 90 percent at its overall purchase on Tuesday.
The price of three-year notes was up 2/32 near its session high of 100-6/32, recovering from a low of 100. The yield, which moves inversely to price, was 1.82 percent, down from 1.84 percent late on Monday.
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