Demand at the U.S. auction of $35 billion of five-year notes from a group that includes pension funds and insurers approached the highest level in almost a year amid speculation on the Federal Reserve’s agenda and turmoil in Ukraine.
Treasuries fell, with benchmark 10- year yields rising for the first time in four weeks, as an accord aimed at ending the crisis in Ukraine and signs of a strengthening U.S. economy crimped refuge demand.
Treasuries fell as reports showed initial jobless claims were lower than forecast last week and a manufacturing index expanded, adding to speculation the Federal Reserve will raise interest rates at some point next year.
In Memphis, 44 percent of the population rents and the remaining 56 percent are homeowners. And in the past year the Memphis real estate market has seen an 2.5 percent increase in value, with a median sales price of $107,200, according to Zillow.