TREASURIES-Bonds pare losses after Chicago PMI index falls
Published: 09 Oct 2009 20:50:18 PSTNEW YORK, Sept 30 - U.S. Treasury debt prices trimmed losses on Wednesday after a gauge of U.S. Midwest factory activity showed a surprise drop in September, reducing the chances of a speedy economic recovery.
The Institute for Supply Management-Chicago said its Purchasing-Management Index on Midwest business activity fell to 46.1 from 50.00 in August. A reading below 50 suggests the region's manufacturing sector is contracting.
Analysts had expected a September reading of 52.0.
The price of benchmark 10-year Treasury notes was flat at 102-25/32 with their yield, which moves inversely to price, at 3.29 percent.
Prior the Chicago PMI data, the 10-year note was down 5/32 in price for a yield of 3.31 percent.
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