10 Year Bond Recovers - Market Update

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Market Update Analysis:

10-Year Bond Recovers

Author: Elena Todorova
123jump.com
Last Update: 12:12 PM EST March 15 2006

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Stocks traded in a tight range, awaiting the Fed Reserve survey of regional economic conditions. The Nasdaq slightly gained after Sears Holdings reported that its Q4 earnings more than doubled. Lehman Bros reported Q1 profit rise of 24% to $1.085 billion, or $3.66 a share on 17$ higher revenue to $4.46 billion. GM edged up on news that the automaker received a bid for its GMAC arm. Bond prices fell, pushing the yield on the 10-year bond higher to 4.73% from 4.69%.

European markets posted gains at mid-day trading, lifted by strong resource and technology stocks, following a sharp decline in U.S. bond yields overnight. BHP Billiton, Rio Tinto, and BP advanced on higher metal prices. Among tech stocks, STMicroelectronics and Infineon Technologies showed strength. The German DAX 30 added 0.3%, the French CAC 40 gained 0.3%, and London FTSE 100 rose 0.5%.

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