Business & Finance
Bonds jump 3 points in price, 7s rise one
NEW YORK : Thirty-year Treasury bonds jumped three points in price on Wednesday, and 7-year notes rose one full point, a
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NEW YORK: Thirty-year Treasury bonds jumped three points in price on Wednesday, and 7-year notes rose one full point, as Treasuries extended gains into the close, and stocks accelerated losses.
Long bonds were last up three full points to yield 3.48 percent, down from 3.65 percent and the lowest since March 2009. Seven-year notes also jumped a point in price with yields dropping to a recrod low 1.48 percent.
Benchmark 10-year notes were also last up 1-14/32 in price to yield 2.08 percent, only 4 basis points above their record low set in December 2008.
US government bonds were aggressively bought on Wednesday as fears over the debt exposures of French banks intensified.
Copyright Reuters, 2011
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