Treasurys higher as Europe's debt worries persist

AP News
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Posted: Dec 02, 2011 5:12 PM
Treasurys higher as Europe's debt worries persist

Treasury prices rose Friday as traders continued to fear that the European debt crisis won't be resolved quickly.

The price of the benchmark 10-year Treasury note rose 47 cents per $100 invested Friday. Its yield fell to 2.04 percent from 2.10 percent.

Traders worried about whether a European Union summit next week would be able to produce a solution to the debt crisis engulfing the euro zone.

Bond investors looked past a surprise drop in the U.S. unemployment rate last month to 8.6 percent, the lowest level in 2 1/2 years.

The yield on the 30-year bond fell to 3.03 percent from 3.10 percent. Its price rose 41 cents.

The two-year note's yield fell to 0.24 percent from 0.26 percent. The yield on the three-month T-bill was 0.01 percent. Its discount wasn't available.