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.

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.