MW: Treasury yields reach new lows on safe-haven shift
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices rose early Friday, pushing short-terms yields to a fresh record low, with falling global stocks, U.S. equity futures and the euro selling off versus the dollar as investors sought out safer assets. The moves extended Thursday's losses after surprisingly weak data called into question the U.S., and therefore world's, ability to sustain a recovery. "The world is in a flight-to-quality mode," said Andrew Brenner, head of emerging markets at Guggenheim Securities. "Sentiment is about as bad as we've seen it in a while." Yields on 2-year notes (UST2YR 0.48, -0.01, -2.66%) , which move inversely to prices, fell 4 basis points to 0.45%. There are no U.S. economic reports scheduled for the session.
