U.S. Treasury prices rose Wednesday as Greece's political turmoil continued. A batch of 10-year notes was sold at a record low yield.
The government sold $24 billion of 10-year notes at an auction Wednesday at a yield of 1.86 percent. That beat the previous record of 1.90 percent set in January.
The yield on notes already in circulation was trading at 1.83 percent, down slightly from 1.84 percent late Tuesday. The price of the note rose 12.5 cents per $100 invested.
Yields on German and British bonds also fell as investors bought them while dumping the debt of other European countries seen as greater credit risks. Borrowing costs for Spain and Italy rose sharply, reflecting increasing unease about their finances.
In Greece, a far-left politician opposed to drastic spending cuts agreed to by the former leadership struggled to form a government following inconclusive elections on Sunday.
In other Treasury trading, the yield on the 30-year bond was flat at 3.03 percent. Its price edged up 6.3 cents. The yield on the two-year note rose to 0.28 percent from 0.25 percent and the yield on the three-month T-bill edged up to 0.10 percent from 0.09 percent.
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