(Refiles to make clear direction of euro trading in New York
in fourth paragraph)
* Wall Street edges up following consumer confidence data
* Euro tempers gains on Greece's soft bond deal
* US Treasuries under pressure on higher equities
By Jennifer Ablan and Natsuko Waki
NEW YORK/LONDON, March 30 (Reuters) - U.S. stocks opened
higher Tuesday following data that showed American consumers
were feeling more confident, but concerns over Greece's funding
strategy tempered gains in the euro.
Greece's sale of 5 billion euros of seven-year bonds on
Monday attracted around 7 billion euros of bids, but that
compares with more than 16 billion euros bid for a 5 billion
euro 10-year issue earlier in the month. []
"The market is not really happy with the demand seen in
yesterday's syndication," said David Schnautz, interest rate
strategist at Commerzbank in Frankfurt.
At 10:30 a.m. (1430 GMT), the dollar was up against a
basket of major trading-partner currencies, with the U.S.
Dollar Index <.DXY> up 0.06 percent at 81.406 from a previous
session close of 81.358. The euro <EUR=>, which has been
battered by the crisis, gained during Asian trading but was at
$1.3432 in New York trading, down from $1.3478 late Monday.
For their part, U.S. benchmark indexes were up at open on
positive consumer confidence data.
The Dow Jones industrial average <> was up 18.66
points, or 0.17 percent, at 10,914.52, while the Standard &
Poor's 500 Index <.SPX> was up 1.34 points, or 0.11 percent, at
1,174.56. The Nasdaq Composite Index <> was up 3.97
points, or 0.17 percent, at 2,408.33.
Confidence among U.S. consumers climbed in March as
Americans perceived employment was starting to improve. The
Conference Board's consumer confidence index rose to 52.5,
exceeding market expectations, from 46.4 in February. Another
report showed home prices rose in January.
EQUITIES FLAVOR OF THE MONTH
Not coincidentally, U.S. Treasury debt prices were lower on
stronger equities.
The benchmark 10-year U.S. Treasury note <US10YT=RR> was
down 5/32, with the yield at 3.8876 percent, while the 2-year
U.S. Treasury note <US2YT=RR> was down 2/32, with the yield at
1.0594 percent.
At the longer end of the yield curve, the 30-year U.S.
Treasury bond <US30YT=RR> was down 8/32, with the yield at
4.7868 percent.
Conversely, MSCI world equity index <.MIWD00000PUS> rose
0.3 percent to its highest since early January, while the
FTSEurofirst 300 index <> rose 0.3 percent and emerging
stocks <.MSCIEF> gained 0.5 percent.
In energy and commodities prices, U.S. light sweet crude
oil <CLc1> rose 22 cents, or 0.27 percent, to $82.39 per
barrel, while spot gold prices <XAU=> fell $3.65, or 0.33
percent, to $1104.50. The Reuters/Jefferies CRB Index <.CRB>
was up 0.63 points, or 0.23 percent, at 273.46.
(Editing by Chizu Nomiyama)
