Treasury Notes Rise as Japan’s Meltdown Concern Bolsters Demand
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Treasury notes rose, pushing 2-year yields to a 5-week low, as concern Japan’s biggest earthquake on record will cause a nuclear meltdown spurred demand for the safety of U.S. government debt.
The extra yield investors demand to hold 30-year bonds over 2-year securities increased to the widest since Feb. 4 on speculation Japan’s insurers will sell the longer maturities to pay claims for damage. Treasury notes also advanced as the U.S. and its allies considered measures to halt the advance of Muammar Qaddafi’s force against Libyan rebels.