MW: Treasurys up amid signs of trouble from England to Argentina
By Deborah Levine
NEW YORK (MarketWatch) -- Treasurys advanced Wednesday, pushing yields lower, as signs that an economic slowdown will infect other countries led investors to the safety of government debt and the U.S. dollar. Ten-year note yields fell 8 basis points to 3.66%. Global equities fell after Bank of England Gov. Mervyn King warned late Tuesday that the British economy had entered a recession and signaled that further, aggressive rate cuts were on the way. Argentine President Cristina Fernandez de Kirchner reportedly proposed late Tuesday that the country wanted to nationalize about $30 billion in assets that had been overseen by 10 private funds, raising concerns that the government would use the funds for needed cash and avoid defaulting on debt a second time this decade.
