Treasurys rise on worries about Spain recession

AP News
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Posted: Jul 20, 2012 2:50 PM

NEW YORK (AP) — Investors are fleeing to the safety of U.S. government bonds after concerns about Spain's financial problems flared up again.

Spain's government said the country might have to endure a recession until next year. As the euro zone's fourth-biggest economy, people fear that if the country asked for a bailout, the rest of the region could not afford to foot the bill.

The price of the benchmark 10-year Treasury note on Friday rose 50 cents for every $100 invested. The yield fell to 1.46 percent, from 1.51 percent late Thursday.

The price of the 30-year Treasury bond rose $1.62 for every $100 invested. The yield fell to 2.54 percent, from 2.61 percent late Thursday.