NEW YORK (AP) — Treasury prices rose Thursday as investors pulled money out of stocks and parked it in low-risk assets like U.S. government debt.
The yield on the benchmark 10-year Treasury note fell to 1.59 percent in late trading, down from 1.63 percent late Wednesday. Its price rose 34 cents for every $100 invested.
Stocks fell on Wall Street after the Supreme Court upheld most of President Barack Obama's health care overhaul law. JPMorgan plunged on a report that its trading loss could widen to $9 billion, more than four times the previously disclosed amount.
Demand was slightly weak at an auction of seven-year Treasury notes. There were $2.64 in bids for every dollar of debt sold, versus an average of $2.87 over the last four auctions.
The government sold $29 billion of the notes at a yield of 1.08 percent, slightly higher than the rate of 1.05 percent on notes trading in the open market at the same time.
In other trading, the yield on the 30-year Treasury bond fell to 2.68 percent from 2.70 percent. Its price rose 28 cents per $100.
The yield on the two-year note edged up to 0.32 percent from 0.31 percent. The three-month T-bill paid a yield of 0.07 percent, down from 0.09 percent.