MW; Treasurys gain as bank fears renew flight to safety
Treasurys gained Friday, pushing yields lower, as investors fear that the government's efforts to rescue the financial system may fall short, pressuring shares of financial companies and renewing the desire for the relative safety of government debt. Ten-year note yields fell 6 basis points to 2.79%. Dour outlooks from industrial companies also revived broader concerns that the global economy still has room to shrink. Treasurys remained higher after the government's consumer price index rose 0.3% in January, matching expectations of economists surveyed by MarketWatch. Excluding food and energy, inflation increased 0.1%, double what economists' forecast.
