NEW YORK — Bond prices were mixed on Thursday, as investors sold off shorter-dated Treasurys and bought back longer ones as an important monthly gauge of future economic activity moved higher.
The price of the benchmark 10-year Treasury note rose 1/8 point, or $3.13 per $1,000 in face value. Its yield, which moves in the opposite direction, fell to 5.41 percent compared with 5.45 late Wednesday.
The 30-year Treasury bond rose 1 7/32 point to yield 5.77 percent compared with 5.86 percent on Wednesday, according to Bridge Telerate news service.
While the bond market was mixed, stocks moved slightly higher. The Dow Jones industrial average closed up 32.66 at 11,248.58 and the Nasdaq composite index advanced 27.20 to 2,193.64.
In other trading, short-term Treasury securities fell between 6/32 point and 7/32 point. Some intermediate maturities fell 5/32 point, while others retreated 1/32.
Yields on three-month Treasury bills were steady at 3.55 percent with a discount of 3.48 percent. Six-month yields were 3.68 percent, as the discount rose 0.04 percentage point to 3.57 percent. One-year yields were 3.69 percent as the discount gained 0.04 percentage point from late Wednesday to 3.57 percent.
Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.
The federal funds rate, the interest on overnight loans between banks, held steady at 4.06 percent.
In the tax-exempt market, the Bond Buyer index of 40 actively traded municipal bonds rose to 101 29/32 from 101 25/32 Tuesday. The average yield to maturity was at 5.46, down from 5.47 percent on Wednesday.
