Treasurys little changed as Europe worries remain

AP News
Posted: May 29, 2012 4:53 PM
Treasurys little changed as Europe worries remain

Treasurys were little changed Tuesday as worries over Europe keep traders in U.S. government debt.

U.S. economic news added to the worry. The Conference Board said Tuesday that its index of Americans' confidence in the economy fell this month to the lowest level since January, a reflection of big drops in stock prices and a weak job market. Analysts had expected falling gas prices to boost confidence.

The price of the 10-year Treasury note was unchanged. Its yield ended the trading day at 1.74 percent, the same as late Friday. The bond market was closed Monday for Memorial Day.

Worsening fears about fallout from the European debt crisis have drawn investors into the Treasury market in May, pushing U.S. government bond rates near record lows. The 10-year Treasury note yield sank as low as 1.69 percent on May 17.

In other trading Tuesday, the price of the 30-year Treasury bond fell 18.7 cents for every $100. Its yield edged up to 2.85 percent from 2.84 percent late Friday. The yield on the two-year note rose to 0.30 percent from 0.29 percent.

The three-month T-bill paid a yield of 0.08 percent.