(Reuters) - NEW YORK, July 12 - The Dow surged to a record
on Thursday as Wal-Mart reported better sales,
suggesting consumer spending is holding up despite rising oil
costs and falling home prices.
The gains in equities hurt bonds as investors were lured
by higher returns, unwinding recent strides in that market and
pushing the benchmark 10-year U.S. Treasury note's
yield up to 5.13 percent. The note's price fell 10/32.
Read more at Reuters.com Bonds News
on Thursday as Wal-Mart reported better sales,
suggesting consumer spending is holding up despite rising oil
costs and falling home prices.
The gains in equities hurt bonds as investors were lured
by higher returns, unwinding recent strides in that market and
pushing the benchmark 10-year U.S. Treasury note's
yield up to 5.13 percent. The note's price fell 10/32.
Read more at Reuters.com Bonds News
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