New York, Aug 14: Longer dated US Treasuries declined early Monday as consolidation and profit-taking spilled over from Friday.Dealers said there was little to drive Treasuries higher ahead of Wednesday's US Consumer price index (CPI) in a market that had pushed yields to their lowest levels of the year on the heels of the $25 billion quarterly refunding sale last week of five and 10-year notes and 30-year bonds.
"We traded off in Tokyo and never got back to unchanged. The market'sdealing with the refunding (supply) to some extent and the after shocks of retail sales in front of CPI," said Michael Pianin, trader at Fuji Securities.
At 7:45 a.M. (1145 GMT) 10-year notes were 3/32 lower at 99-19/32, pushing their yield, which moves inversely to the price, up to 5.80 per cent.
Thirty-year bonds were 7/32 lower at 107-16/32 to yield 5.72 per cent.
-- (Reuters)
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.