Treasury Two-Year Yield Drops to Record Low on Slowdown Concern
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Treasuries rallied, pushing the two-year note yield to an all-time low, as U.S. companies added fewer jobs in June than economists forecast and China’s manufacturing growth slowed.
The extra yield investors demand to hold 10-year notes over 2-year debt dropped the most in six weeks on heightened deflation concern. The U.S. government will sell $12 billion in 10-year Treasury Inflation Protected Securities on July 8.