Treasurys slip as investors shake off fear

AP News
|
Posted: Jun 22, 2012 4:20 PM
Treasurys slip as investors shake off fear

NEW YORK (AP) — Treasurys are falling in price on receding fears about Europe and a global economic slowdown.

The prices of the benchmark 10-year Treasury note on Friday fell 50 cents for every $100 invested. The yield, which moves in the opposite direction, rose to 1.67 percent from 1.62 percent late Thursday.

At a meeting in Rome, several European leaders agreed to push for a growth package worth up to $163 billion at a European Union summit next week. Investors have been buying Treasurys out of fear that the European debt crisis might spiral out of control.

Recommended
Enough's Enough
Walter E. Williams

The selling in Treasurys comes a day after weak manufacturing reports stirred fears about the global economy and led investors to buy Treasurys and sell stocks. The S&P 500 rose 10 points to 1,335 on Friday.