Bonds End Little Changed Despite a Big Jump In Stock Prices, Lukewarm Response to U.S. Sale
NEW YORK -- Bond prices ended little changed despite soaring stock prices and a tepid response to a Treasury sale of new 30-year bonds.</br></br>Elsewhere, the corporate debt market continued to see a spate of offerings. Issuers view borrowing conditions as favorable now and worry that interest rates could rise, pushing up the cost of tapping the market.</br></br>In the Treasurys market late yesterday, the outstanding 30-year Treasury bond's price was unchanged at 98 7/32. Its yield stood at 5.361%, also unchanged and around its highest for 1999 so far.</br></br>Meanwhile, in when-issued trading, the newly sold 30-year Treasury was quoted at a yield of 5.298%.</br></br>Early in the day, Treasurys reacted little to evidence of healthy consumer demand and a robust labor market. Government data showed January retail sales up 0.2% and weekly claims for state unemployment-insurance benefits falling to their lowest level in a year and a half.