Treasuries rose, pushing 10-year note yields down the most in three weeks, as an unprecedented proposed levy on bank deposits in Cyprus threatened to reignite the euro region’s debt crisis, boosting demand for a refuge.
The 10-year yields traded below 2 percent for a second day before the Federal Reserve begins a meeting tomorrow amid speculation policy makers will decide the central bank should keep buying bonds to spur economic growth. Euro-area finance ministers sought to tax bank deposits in Cyprus as part of a plan for a 10 billion-euro ($13 billion) bailout of the nation. “The Cyprus news was the biggest and most negative news we’ve had in some time,” said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia, which oversees $12 billion in fixed income assets. “Still, the market is waiting for more news out of Europe , now that we know the […]
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Treasury Yields Drop Most in Three Weeks Amid Concern on Europe
Treasury Yields Drop Most in Three Weeks Amid Concern on Europe
Treasury Yields Drop Most in Three Weeks Amid Concern on Europe
Treasury Yields Drop Most in Three Weeks Amid Concern on Europe
Treasury Yields Drop Most in Three Weeks Amid Concern on Europe
Treasury Yields Drop Most in Three Weeks Amid Concern on Europe