TREASURIES-Bonds turn positive as U.S. stocks pare gains
NEW YORK, July 30 (Reuters) - Treasury debt prices turned higher on Wednesday, erasing earlier losses, as U.S. stocks pared gains, restoring government bonds' safe-haven appeal.
The benchmark 10-year Treasury note's US10YT=RR price, which moves inversely to its yield, rose 2/32 for a yield of 4.036 percent, versus 4.044 percent late Tuesday.
Stocks shed some gains as U.S. crude oil rebounded above $125 per barrel CLc1, reawakening concerns that high energy costs will add to consumers' pain and drag on the economy, and as financial stocks slipped.
"The strong opening in the equity market hasn't held, attributable to the rebound in oil, and as that has come full circle it has helped Treasuries come back," said Mark Freeman, senior vice president and portfolio manager with Westwood Holdings Group in Dallas. (Reporting by John Parry; Editing by Leslie Adler)
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