Stocks Head to Mixed Open, Bonds Down on Tax Plan

NEW YORK (AP) – Treasurys bonds are in a steep fall and stocks
are headed to a mixed opening as investors continue to size up
President Barack Obama’s compromise to extend tax cuts for two
years.

Investors expect the tax-cut deal to boost economic growth but
also widen the budget deficit.

Treasury prices are dropping in early Wednesday trading, sending
their yields higher. The yield on the 10-year Treasury note rose to
3.23 percent, the highest level since June.

That means higher borrowing costs for the U.S. government when
the Treasury auctions off $21 billion in 10-year notes later
Wednesday.

Ahead of the opening bell, Dow Jones industrial futures are down
21 points, or 0.2 percent, to 11,334. S&P 500 index futures are
down 1, or 0.1 percent, to 1,222. Nasdaq 100 futures are up 0.25,
or 0.01, to 2,190.