TREASURIES-Losses widen after Fed statement

NEW YORK, April 28 (BestGrowthStock) – U.S. Treasuries first
trimmed losses, but then widened them on Wednesday after the
U.S. Federal Reserve left interest rates near zero and renewed
a promise to keep them low for an “extended period,” but
sounded more upbeat on the economic recovery and jobs.

At the end of a two-day meeting that took place against the
backdrop of rising financial turmoil in Europe, the Fed said
consumer and business spending were picking up steam.

The benchmark 10-year note, down 18/32 before the statement
was released, briefly trimmed that loss but then widened it to
a decline of 22/32. Its yield rose to 3.77 percent, up 8 basis
points from late Tuesday.

The gap between two- and 10-year note yields shrank to 271
basis points, compared with 272 basis points late Tuesday.

Stock Market Basics
(Editing by Theodore d’Afflisio)

TREASURIES-Losses widen after Fed statement