NEW YORK (AP) — Treasury prices are rising, a day after they plunged on news that Europe has a plan to contain the Greek debt crisis.
The price of the 10-year Treasury note rose 66 cents for every $100 invested, pushing its yield down to 2.32 percent in early afternoon trading Friday from 2.39 percent late Thursday.
Demand for Treasurys dwindled Thursday after European leaders announced a deal to strengthen banks, expand a regional bailout fund and reduce Greece's debt.
Prices turned higher Friday as traders began to scrutinize the deal, which lacks many key details such as how the new fund will work. Economic uncertainty makes Treasurys more attractive because they tend to hold their value when other investments decline.
No comments:
Post a Comment