Treasury Prices Fall While Service Sector Expands

U.S. service-oriented companies grew slightly faster in September as customer demand improved. This is the ninth month in a row of service sector expansion. Investors sold Treasurys on Tuesday after a report showed that the service sector expanded again. The selling is more profit-taking than an overall change in investor’s outlook for the economy. Investors are also putting their money into stocks. Traders have pushed Treasury yields lower in recent weeks because they expect the Federal Reserve will try to lower long-term interest rates to spur borrowing and spending.