Libyan Violence Stifles Demand for Bonds, as Well as Stocks

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Violence in Libya stifled demand for U.S. 10-year bonds Wednesday, pushing prices down 22 cents per $100 invested.

The yield on the 10-year Treasury, which moves in the opposite direction of price, rose to 3.49% Wednesday from 3.46% Tuesday after falling from 3.62% a week ago.

The declining bond prices come amid widespread violence between military forces and anti-government protesters in the Libyan capital, Tripoli. Nearly 300 people have been killed in the uprising so far, according to the New York-based Human Rights Watch.

The tensions in Libya caused investors to shy away from stocks, as well as the Treasurys, while oil prices briefly exceeded $100 a barrel on the news.

Meanwhile, the Dow Jones Industrial Average (INDU) lost 107 points, or 0.9%, to close at 12,106 Wednesday. The blue-chip index was had declined as m 149 points in midday trading before paring its loss.

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Markets

S&P 500 2,368.06 6.93 0.29%
DJIA 20,728.49 69.17 0.33%
NASDAQ 5,914.34 16.80 0.28%
DAX 12,256.43 53.43 0.44%
NIKKEI 225 19,179.73 116.51 0.61%
HANG SENG 24,301.09 0.00 0.00%
USD (per EUR) 1.07 0.00 -0.04%
USD (per CHF) 1.00 0.00 0.02%
JPY (per USD) 112.00 0.23 0.20%
GBP (per USD) 1.25 0.00 0.10%

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