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T-Note Auction Puts Dow Off 24

By Harry Kimball,  Newser Staff

Posted Jun 10, 2009 3:11 PM CDT

(Newser) – Markets fell today as an auction pushed yields on 10-year Treasury notes higher, the Wall Street Journal reports. A 30-year sale is scheduled for Friday. “Higher interest rates are not good for anyone,” said one broker. “It’s going to kill the refinancing boom.” The Dow was off 24.04 to 8.739.02. The S&P lost 3.28 to end at 939.15. And the Nasdaq shed 7.05 to 1,853.08.

A trader works on the floor of the New York Stock Exchange.
A trader works on the floor of the New York Stock Exchange.   (AP Photo)
A trader works on the floor of the New York Stock Exchange.
A trader works on the floor of the New York Stock Exchange.   (AP Photo)
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I wouldn't say the market has it wrong, but it's probably telling us inflation is a threat six to nine months out. For now, all the data are telling us it's not much of a danger at all.
- Richard Sparks, Schaeffer's Investment Research

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kokuaguy
Jun 10, 2009 11:07 AM CDT
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