Treasuries Fall on Speculation G-20 Will Act |
| Bloomberg - Sep 23, 2011 |
Treasuries declined, pushing yields on benchmark 10-year notes up from a record low, on speculation Group of 20 leaders will act to prevent the European debt crisis from worsening.
Thirty-year bonds pared their biggest weekly gains in almost three years as global equity markets recovered. Investors have sought refuge in U.S. government debt on concern the global economy is on the brink of another recession. The Federal Reserve said on Sept. 21 that it would buy longer-term debt to lower borrowing costs because there are significant risks to the economy.
“Treasuries are coming off some as equities are performing better and there has been no more bad news to speak of,” said Ian Lyngen, a government bond strategist at CRT Capital Group LLC in Stamford, Connecticut. “There is constructive chatter out of Europe about a potential rate cut, but the flight to quality motivation in the market remains the dominant theme.”
Read Full Article from Bloomberg
- Posted: 2011-09-23 13:07:13
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