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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Aug 08, 1985
Page
6
Washington reports a record $33.4 billion U.S. foreign trade deficit for April to June due to surged oil imports and collapsed farm exports. Deficit rose 12.8 percent from January to March to $29.6 billion as Baldrige calls for budget cuts to steady the dollar.
Washington AP reports that yields on 10-year Treasury notes declined to their lowest level in over two years at Wednesday's auction. The Treasury sold 6.8 billion dollars of 10-year notes with an average yield of 10.6 percent, down from 11.3 percent at the May 15 auction, the lowest since 10.16 percent on May 4, 1983.
New York stocks edged lower as traders awaited the Treasury bond sale schedule and digested earnings misses. The Dow fell further to 1,325.04, with volume around 100.04 million shares as Cullinet Software and Stop & Shop posted declines and MGM-UA gained in active trading.
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