Treasury 10-year notes rose, pushing the yield to a 16-month low, a day after the Federal Reserve said the recovery from recession is slowing. The government sold $24 billion of the benchmark debt at the lowest yield since January 2009 in the second of three note and bond sales this week totaling $74 billion. Two-year note yields touched a record low following the central bank’s decision to reinvest maturing agency and mortgage-backed securities in U.S. debt to support the economy. “All we’ve seen is buying of Treasuries,” said Suvrat Prakash, an interest-rate strategist in New York at BNP Paribas SA, one of the 18 primary dealers required to bid at Treasury auctions. “People aren’t looking to sell. They either stop buying and rest or keep chasing yield.” Read more
here:
Bond Market - A NO CONFIDENCE VOTE
Treasury 10-year notes rose, pushing the yield to a 16-month low, a day after the Federal Reserve said the recovery from recession is slowing. The government sold $24 billion of the benchmark debt at the lowest yield since January 2009 in the second of three note and bond sales this week totaling $74 billion. Two-year note yields touched a record low following the central bank’s decision to reinvest maturing agency and mortgage-backed securities in U.S. debt to support the economy. “All we’ve seen is buying of Treasuries,” said Suvrat Prakash, an interest-rate strategist in New York at BNP Paribas SA, one of the 18 primary dealers required to bid at Treasury auctions. “People aren’t looking to sell. They either stop buying and rest or keep chasing yield.” Read more here:
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