NEW YORK (AP) — Interest rates are rising in the bond market as a slightly higher stock market weakens demand for Treasurys.
Stocks are up moderately as gold prices hit another record and boost shares of mining companies. The Dow Jones industrial average is up about 14 points in afternoon trading.
The weaker demand for safer investments like Treasurys is driving rates higher. The yield on the 10-year Treasury note, a widely used benchmark for mortgages and other consumer loans, is up to 3.23 percent from 3.20 percent late Thursday.
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