When Will Bond Prices be Low Enough to Buy?

On Thursday, stocks made slight headway for the third consecutive day. Better economic news drove Treasury yields higher, putting pressure on higher-yielding sectors and bonds.

Signs of an economic recovery were confirmed as jobless claims fell to 323,000 versus an expected 330,000. And ADP reported that 176,000 new private-sector jobs were created in August, which matched expectations.

The yield on the 10-year Treasury bond rose to 2.98%, up 8 basis points, confirming the trend of higher interest rates that began three months ago in anticipation of a Fed cutback in its bond purchase plan. (more)

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