Treasurys Higher In Flight To Safety
S&P MARKETSCOPE (08/09/2007 8:15am EDT): The 10-year Treasury notes were up 19/32 to 99-26/32 Thursday morning for yield of 4.782% in flight to safety from stocks that are falling on reports of more subprime fund woes in Europe. BNP Paribas Investment Partners, a unit of French bank BNP Paribas, said it temporarily suspended three of its funds as a result of a current lack of liquidity in the market, WSJ and others reported. The market in these types of investment has come under pressure recently because of problems in the subprime mortgage market. The European Central Bank, nervous about BNP unit's troubles, said it will take steps necessary maintain orderly markets. European rates were lower.
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