Treasury Yields Slide to Records as Europe Spurs Bid for Safety

Treasuries climbed, with five-, 10-and 30-year yields sliding to records, as concern mounted that Greece’s failure to meet bailout targets may worsen the European debt crisis, stoking demand for the safest assets.

The yield on the 10-year note plunged below the old mark set June 1 before the meeting tomorrow of Greece’s troika of international creditors, while the cost of insuring Spain’s debt rose to a record. The benchmark note extended gains after Moody’s Investors Service lowered to negative the Aaa credit-rating outlooks on Germany, the Netherlands and Luxembourg. U.S. government debt added to last week’s rise before reports this week forecast to show growth cooled.