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    Treasury Yields Climb On Fed Reassurance

    Yields on Treasuries reversed their early losses as Federal Reserve Bank of Chicago President, Charles Evans asserted that  U.S economic fundamentals  were "really quite good".  

    Interest rates on U.S. securities had fallen after a series of terrorist bombings in Brussels killed at least 31 and injured more than 180 berfore the Ameican market open.  European cities were placed on high alert and central Brussels was closed.

    The yield on the 10-year lost 4 basis point in pre-U.S market trading from yesterday's close at 1.9155 and touched a low of 1.8786 before Mr. Evan's comments  pushed the return higher to 1.9403 at the close, up  2.5 points. 

    The 2-year yield also shed 4 basis points to 0.8355 before it made up ground to end at 0.8865, 1 point above yesterday's close. 

    The euro lost but slightly on the day, despite the turmoil, ending at 1.1217 after closing at 1.1241 yesterday.

    The Dow  dropped 41.30 points, though it had been higher for much of the afternoon, ending at 17,582.57.  The S&P 500  lost 1.80 points to 2049.80 and the Nasdaq gained 12.79 points to 4,821.66. 

    The Richmond Federal Reserve Manufactuing Index jumped 26 point to 22, its third largest monthly gain on record. The new orders index for the district  soared 30 points to 24.  

    Markit Economics of London reported that its preliminary U.S.  purchasing  managers' index for manufacturing rose  to 51.4 in March from 51.3  in February. Economists had forecast a move to 51.9. 









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