Treasury prices ease as hopes grow for Greece

AP News
Posted: Mar 08, 2012 5:26 PM
Treasury prices ease as hopes grow for Greece

Treasury prices are easing as it appears more likely that Greece will succeed in a debt swap aimed at avoiding a default.

Thursday was the deadline for private investors to participate in the deal to exchange Greek government bonds for replacements with lower face value and interest rates. The formal results aren't expected to be announced until Friday, but early indications are that enough investors will join in the exchange for it to succeed.

The 10-year Treasury note fell 31.2 cents for every $100 invested. Its yield rose to 2.02 percent from 1.98 percent late Tuesday.

The 30-year bond fell $1.03, sending its yield up to 3.18 percent from 3.12 percent.

The yield on the two-year note held steady at 0.31 percent. The three-month T-bill paid a yield of 0.08 percent.