BONDS Prices slip in quiet trading

NEW YORK (AP) -- Bond prices edged lower in mild trading Thursday, sending their yields somewhat higher.
The price of the benchmark 10-year Treasury note fell 1/16 point, or 63 cents per $1,000 in face value. Its yield, which moves in the opposite direction, rose to 4.21 percent compared with 4.20 percent late Wednesday.
The 30-year Treasury bond fell 3/16 point to yield 4.68 percent, up from 4.66 percent a day earlier, according to Moneyline Telerate.
In other trading, the benchmark 2-year note rose 6/32 point to yield 3.28 percent. Intermediate maturities fell between 1/32 point and 1/16 point.
Yields on one-month Treasury bills were 2.15 percent and the discount was 2.11 percent. Yields on three-month Treasury bills were 2.44 percent as the discount rose 0.02 percentage point to 2.39 percent. Six-month yields were 2.71 percent, as the discount rose 0.01 percentage point to 2.64 percent.
Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.
The federal funds rate, the interest on overnight loans between banks, rose to 2.38 percent from 2.31 percent late Wednesday.

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