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Treasury prices rise on Europe's credit woes

Treasury prices rise on Europe's credit woes

Treasury prices are edging up as the ongoing financial crisis in Europe convinced investors to seek safer assets.
The price of the 10-year Treasury note inched up 12.5 cents per $100 invested in late Monday trading. Its yield, which moves in the opposite direction, fell to 3.16 percent from 3.17 percent late Friday.
European finance ministers agreed Monday to give Portugal $110 billion in rescue loans so it could overhaul its economy. But the ministers have yet to decide on a second rescue package for Greece to avoid catastrophic default.
Bond prices also got a boost when an index that is used to measure manufacturing business conditions in New York State dropped to its lowest level in five months. Traders tend to buy Treasurys when the economy appears softer.


Updated : 2021-04-12 12:19 GMT+08:00