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US Treasurys rise on Spain bailout speculation

US Treasurys rise on Spain bailout speculation

Treasury prices are rising on fears that Spain will require a bailout, adding to instability in Europe and boosting demand for safe investments.
The price of the 10-year Treasury note rose 44 cents for every $100 invested Friday, pushing its yield down to 1.59 percent as of 11 a.m. EDT from 1.64 percent late Thursday.
European leaders this weekend will discuss possible measures to help Spain's teetering banking system. Banks there have heavy losses from a burst real estate bubble and need government help to survive. Spain probably can't afford to prop up its banks.
Fears about instability in Europe increased demand for low-risk investments like Treasurys. Treasury prices had fallen for most of the week as stocks bounced back from a steep sell-off the week before.


Updated : 2021-10-21 14:15 GMT+08:00