Treasury 10-Year Yield Drops for 5th Week on Europe, Data
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Treasury 10-year note yields fell for a fifth week, the longest stretch since June, as concern Europe’s debt crisis isn’t resolved and weaker-than-forecast U.S. economic data spurred demand for the safest assets.
The benchmark security yielded below 2 percent for sixth consecutive days as finance chiefs from the Group of 20 nations meeting in Washington reported the commitment of $430 billion in fresh money yesterday to stem European turmoil. U.S. filings for jobless benefits rose and sales of previously owned homes dropped earlier in the week, renewing concern the economic recovery is slowing before Federal Reserve policy makers meet April 24-25 to set monetary policy.