Yields on ten year U.S. Treasuries rose to almost 3% in trading on Thursday. Also, the Dow Jones Industrial Average added 122.33 points in light trading and closed at 16,479.88. The Dollar was stronger and traded at a five year high against the Japanese Yen.
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The Dow Jones Industrial Average closed over 16,000 for the first time on Thursday. The Dow Jones rose 109.17 on Thursday and closed at 16,009.99. On Friday, the Dow added 54.78 points and closed at 16,064.77. The Dow Jones Industrial Average has increased more than 20% in the last year.
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According to the Energy Information Administration, the average retail price for a gallon of gasoline fell to $3.646. Prices declined the most in the Midwest region where gasoline fell 8.5 cents a gallon. Gasoline prices had risen almost 20 cents over the last two weeks. Last year , gasoline prices were almost 14 cents a gallon lower near the end of July than this year.
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The Dow Jones Private Equity Analyst Conference will take place at the Waldorf Astoria in New York on September 26th and 27th. This year marks the 20th anniversary of the Private Equity Analyst Conference. The event starts with a networking breakfast and registration at 7:30 am on September 26th. The Gala dinner will be at 6:30 pm on September 26th and the Conference concludes at 2 pm on September 27th. Private Equity Conference participants include Institutional Investors, Fund of Funds managers, Investor Relations executives, and Specialized Advisors. The Conference is a top networking event in the Private Equity and Venture Capital space.
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The Dow Jones Industrial average fell over 100 points in Wednesday trading. Investor concerns relating to the Federal Reserve possibly changing quantitative easing policy may have been a factor in the decline. Mortgage REITs benefit from a low interest rate environment and could also be affected by a change in policy. Ten year Treasury yields remained above 2.1% for the second straight day.
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According to the U.S. Energy Information Administration, natural gas inventory levels remained higher than the five year average. Natural gas inventory fell 127 billion cubic feet last week which was near analysts expectations. Currently, inventory levels are 2,400 billion cubic feet which is 17.7% higher than the five year average.
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A recent MSN Money article discusses rising U.S. bond yields and the economic recovery. An increase in bond yields may influence the housing market as well as investments in the public sector. Recently, ten year Treasuries rose above the 2% mark hitting 2.04% on Friday.
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