Wednesday, 26 September 2012 22:16
NEW YORK: US government debt prices rose on Wednesday for an eighth straight session on worries Spain's reluctance to ask for a full-blown bailout would prolong Europe's debt crisis.
The Treasuries market, as measured by the benchmark 10-year note, was on track to match its longest winning streak since late November to early December 2008, according to Reuters data.
Longer-dated US yields touched their lowest levels in more than two weeks since they spiked earlier this month in reaction to the Federal Reserve's announcement of a third large-scale bond purchase program, nicknamed QE3.
In the face of renewed appetite for US federal debt, the Treasury Department will sell $35 billion of new five-year securities on Wednesday, part of this week's $99 billion in note supply.
"Things are bumpy again in Europe. You are seeing more tension there that's leading to a predictable rally on the long end," said Eric Green, global head of rates ...