NEW YORK (AP) — Treasurys bonds are in a steep fall and stocks are headed to a mixed opening as investors continue to size up President Barack Obama’s compromise to extend tax cuts for two years.
Investors expect the tax-cut deal to boost economic growth but also widen the budget deficit.
Treasury prices are dropping in early Wednesday trading, sending their yields higher. The yield on the 10-year Treasury note rose to 3.23 percent, the highest level since June.
That means higher borrowing costs for the U.S. government when the Treasury auctions off $21 billion in 10-year notes later Wednesday.
Ahead of the opening bell, Dow Jones industrial futures are down 21 points, or 0.2 percent, to 11,334. S&P 500 index futures are down 1, or 0.1 percent, to 1,222. Nasdaq 100 futures are up 0.25, or 0.01, to 2,190.
