Treasurys edge up as Spanish troubles resurface

AP News
Posted: Apr 18, 2012 4:39 PM
Treasurys edge up as Spanish troubles resurface

Treasury prices edged up Wednesday as worries about Spain resurfaced.

The price of the 10-year U.S. Treasury note rose 18.7 cents for every $100 invested. The higher price pushed its yield down to 1.98 percent from 2 percent late Tuesday.

The Bank of Spain said the amount of bad loans held by Spanish banks rose to an 18-year high in February. If those banks falter, it would put pressure on Spain's already troubled government to prop them up.

Worries over Europe's debt crisis often send traders into the relative safety of the U.S. Treasury market.

The price of the 30-year Treasury bond rose 28.1 cents, sending its yield down to 3.13 percent from 3.14 percent late Tuesday. The yield on the two-year note remained unchanged at 0.27 percent.

In the market for short-term bills, the 3-month T-bill paid a yield of 0.07 percent.