NEW YORK — Bond prices finished little changed Tuesday in lethargic trading as investors stayed mainly on the sidelines while negotiators in Washington kept trying to work out a compromise on trimming the federal budget deficit.
The Treasury's key 30-year bond was down about $2.50 per $1,000 in face value. Its yield, which moves inversely to its price, rose to 8.92% from 8.89% late Monday.
"The bond market went through another dull and listless session," said Anthony Naylor, senior vice president of fixed-income securities at Rodman & Renshaw Inc. in New York.
Bond prices opened on a down note after the dollar's poor performance overseas. A weak dollar can ignite higher inflation, which erodes the value of fixed-income securities and makes dollar-denominated bonds and notes less attractive to foreign investors.