Treasury prices rise as traders prep for Bernanke
NEW YORK (AP) -- Treasury prices are edging up as traders start preparing for a speech by the Federal Reserve chairman at the end of the week.
The 10-year Treasury note is up 34.3 cents for every $100 invested in light trading Monday. The higher price pushed the 10-year yield down to 1.65 percent, compared with 1.65 percent late Friday.
Ben Bernanke, the Fed chairman, will speak on Friday at an annual conference in Jackson Hole, Wyo.
Traders will be sifting through Bernanke's speech for hints the Fed is preparing more steps to support the economic recovery. Previous Fed programs have focused on buying Treasurys and mortgage bonds.
In other trading, the 30-year Treasury bond is up 75 cents for every $100 invested. Its yield dropped to 2.76 percent from 2.79 percent.
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