Treasurys mostly flat; soft demand at TIPS sale

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Associated Press

Posted on July 19, 2012 at 1:03 PM

NEW YORK (AP) — Treasury prices are mostly flat as investors weigh weak economic reports against strong earnings from U.S. companies.

The price of the benchmark 10-year Treasury note fell 1.25 cents for every $100 invested. The yield rose to 1.51 percent from 1.50 late Wednesday.

In an auction Thursday of 10-year Treasury Inflation-Protected Securities, or TIPS, demand was slightly weaker than in previous auctions. There were $2.62 of bids for every dollar of notes on sale, versus an average of $2.77 over the previous six auctions.

Earlier, a measure of manufacturing in the mid-Atlantic region came in unexpectedly weak, as did reports on home sales and leading economic indicators.

Stocks rose after companies including IBM and eBay reported better-than-expected earnings for the second quarter.

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