MW: Treasurys rise after productivity, labor cost data
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices advanced on Tuesday, pushing yields down a second day, after government data showed second-quarter productivity jumped 6.4% and unit labor costs fell 5.8%, indicating a lower risk of inflation. Yields on 10-year notes (UST10Y 3.77, -0.08, -2.03%) , which move inversely to prices, declined 3 basis points to 3.75%. Also during the session, the Federal Reserve will buy Treasurys maturing in 2026 to 2039, and the government will start its quarterly refunding by selling a record $37 billion in 3-year notes (UST3YR 1.77, -0.06, -3.22%) .
