Treasury 30-Year Bond Yields Have Biggest Weekly Drop Since 2008

Treasury 30-year bond yields had their biggest weekly drop since the depths of the financial crisis in December 2008 on concern the U.S. economic recovery is stalling and Europe’s sovereign-debt crisis is getting worse.

Yields on five-, seven- and 10-year notes fluctuated a day after plunging to historic lows. Government bonds have rallied since the Federal Reserve pledged this month to keep its target lending rate at virtually zero until at least mid-2013 and Standard & Poor’s lowered the top U.S. credit rating for the first time.

“The pace at which the money keeps flowing into the back end is alarming,” said Sean Murphy, a trader in New York at Societe General, one of the 20 primary dealers that trade directly with the Fed. “It’s the volatility, uncertainty and comments made by the Fed that rates will be on hold.”

Read Full Article from BusinessWeek

- Posted: 2011-08-19 16:36:22

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