Saturday, December 31, 2011

Treasurys edge higher in light trading on Europe (AP)

NEW YORK ? Demand for U.S. government debt remained strong Thursday as yields on Italian government bonds stayed stubbornly high after the latest auction.

The benchmark 10-year Treasury note edged up 18.8 cents per $100 invested. Its yield fell to 1.90 percent from 1.93 percent late Wednesday.

Italy paid 6.98 percent on a 10-year bond auction, dangerously close to the 7 percent threshold at which Greece and Portugal had to seek bailouts from their creditors. That kept demand high for relatively low-risk assets like Treasurys.

In other trading the 30-year bond rose 37.5 cents. Its yield fell to 2.90 percent from 2.92 percent. The yield on the two-year note was unchanged at 0.27 percent.

The yield on the three-month T-bill was 0.01 percent. Its discount wasn't available.

Trading was quiet on the second-to-last trading day of 2011. Markets will be closed Monday in observance of New Year's Day, which falls on Sunday.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20111229/ap_on_bi_ge/us_credit_markets

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