Treasurys drift without word on Greek rescue plan

AP News
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Posted: Feb 15, 2012 4:54 PM
Treasurys drift without word on Greek rescue plan

U.S. government bonds were little changed Wednesday as traders waited for word on a rescue package for Greece.

The price of the 10-year Treasury note inched up 6.25 cents for every $100 invested. Its yield, a widely used benchmark for loans throughout the economy, slipped to 1.93 percent, down from 1.94 percent late Tuesday.

European finance ministers said Greece has made progress in tightening its budget, but they have yet to sign off on a long-awaited loan package. Without those loans, Greece could default on its debt next month.

In other Treasury trading, the 30-year bond lost 6.25 cents per $100. The long bond's yield was unchanged from late Tuesday at 3.09 percent. The yield on the two-year note was also unchanged at 0.28 percent.

In the market for short-term bills, the three-month T-bill paid a 0.11 percent yield.