MW: Treasurys yield slump further after housing data
By Nick Godt
NEW YORK (MarketWatch) -- Treasurys saw a rally gain more steam on Tuesday, further pressuring yields, after a realtor association estimated sales of existing U.S. homes plunged 27.2% in July, their biggest one-month drop ever. The price of benchmark 10-year Treasurys (UST10Y 2.48, -0.12, -4.50%) rose, sending their yields 13 basis points lower to 2.476%. Yields on two-year notes (UST2YR 0.46, -0.02, -4.35%) fell 2 basis points to 0.458%, while those on 30-year bonds (UST30Y 3.55, -0.11, -3.08%) slumped 11 basis points to 3.551%.
