Treasury 10-Year Notes Have Biggest Weekly Drop In Three Months

Treasury 10-year notes had the biggest weekly decline since April as concern eased that the U.S. is slipping back into recession and the government prepared to sell $69 billion of notes and bonds.

The benchmark 10-year yield touched the highest level in almost two weeks after rising yesterday above 3 percent for the first time this month as stocks rallied on evidence of a global economic recovery. Futures traders reversed bets and showed for the first time in 18 months they expect a decline in the two- year note.

"It's a combination of supply and the stock market," said Jeff Given, part of a group that manages $18 billion of bonds at MFC Global Investment LLC in Boston. "All the risky assets have caught a pretty good bid."

Read Full Article from San Francisco Chronicle

- Posted: 2010-07-09 22:00:50

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