Treasury 10-Year Yields Fall to 16-Month Low on Fed Debt Buying
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Treasury 10-year yields dropped to a 16-month low as the Federal Reserve said it would resume buying U.S. government debt to bolster a faltering economic recovery.
The benchmark yields fell for a third straight week as government reports showed retail sales increased in July less than economists forecast and the annual rate of inflation remained at a 44-year low for a fourth month. The central bank will return to buying debt on Aug. 17 with purchases of maturities from August 2014 to July 2016.