Treasurys dip ahead of auction

Treasurys traded lower Wednesday morning ahead of a government auction of $21 billion in 10-year notes. What prices are doing: In mid-day trading, the benchmark 10-year note fell 10/32 to 99-3/32 and its yield rose to 3.741%. Bond prices and yields move in opposite directions.

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The 30-year bond fell 16/32 to 98-21/32 and its yield rose to 4.711%. The 2-year note fell 2/32 to 99-30/32 with a yield of 0.916%. The 5-year note fell 7/32 to 99-31/32 with a yield of 2.385%.

What’s moving the market: After strong demand in the government’s $40 billion auction of 3-year notes Tuesday, analysts expect Wednesday’s auction of 10-year notes to be well received, but with slightly less demand. Longer term debt like the 10-year note and 30-year bond traditionally see slightly lower demand in auctions, because of their inherent greater risk.

Stocks rose Wednesday morning on strong gains from financial services and technology companies and mixed news from two economic reports. [Read the full article]

Assemblyman Kevin Cahill joined with Congressman Maurice Hinchey, NYSERDA President Francis Murray, and CEO of the Solar Energy Consortium (TSEC) Vincent Cozzolino to announce that solar module manufacturer, Solartech Renewables, LLC will open a new manufacturing facility at TechCity. The company will create 100 jobs immediately and will likely expand to 300 employees over the next five years.

Assemblyman Cahill worked with the Empire State Development Corporation, NYSERDA and the Governor office to secure over $5 million in state incentives, which when combined with the efforts of TSEC, made the move to TechCity possible. “TechCity is quickly becoming the place to be for clean energy companies,” said Assemblyman Cahill. [Read the full article]

Nebraska’s unemployment rate remained unchanged at 4.6 percent in January, still less than half the national rate of 9.7 percent, state officials said in a report issued Wednesday.

The state said the preliminary December rate of 4.7 percent reported on Jan. 22 has been revised to 4.6 percent.

The state’s January rate was a half-point higher than the 4.1 percent reported a year ago, the Nebraska Department of Labor said. The national rate in January was two percentage points higher than a year earlier.

Two sectors of the state economy added jobs in January. The education and health services sector added 5,479 jobs, and the other services–repair and maintenance sector added 113 jobs, the report said.

Nebraska’s seasonally adjusted labor force included 983,427 people in January. Of those, 45,361 were listed as unemployed, which is 607 lower than in December and 4,560 higher than January 2009. [Read the full article]

SUGAR LAND, Texas–(BUSINESS WIRE)–The U.S. Department of Commerce recently approved expansion of the Port Freeport Foreign Trade Zone to include two sites along U.S. Highway 59 in Fort Bend County, including the new CenterPoint Intermodal Center ” Houston Metro in Rosenberg.

A joint venture between Kansas City Southern (KCS) and Chicago-based CenterPoint Properties (CPP), the CenterPoint Intermodal Center consists of 630 acres and sits directly adjacent to the newly-opened Kansas City Southern Railway intermodal shipper facility, which will be used to receive, store and disburse by rail and truck containerized cargo across Texas, other parts of the U.S. and Mexico. [Read the full article]

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