Treasurys rise as worries over Europe loom

AP News
Posted: Nov 14, 2011 4:29 PM
Treasurys rise as worries over Europe loom

Treasury prices edged up Monday as worries over Europe continue to hang over markets.

The euro fell against the dollar and European and U.S. stock indexes sank as traders looked ahead to the challenges still facing Europe.

The Italian government raised $4.1 billion in a sale of five-year bonds, but it had to borrow at the highest interest rate since 1997.

In late Monday afternoon trading, the price of the 10-year note was up 15.6 cents for every $100 invested. The yield fell to 2.04 percent, a drop from 2.06 percent late Thursday.

Bond trading was closed Friday for Veterans Day.

In other trading, the yield on the 30-year Treasury bond slipped to 3.08 percent from 3.11 percent Thursday. Its price rose $1 per $100 invested.

The yield on the two-year Treasury note edged down to 0.23 percent from 0.24 percent.

The yield on the three-month T-bill was 0.01 percent. Its discount wasn't available.