BLBG: U.S. Treasuries Extend Drop After China Cuts Interest Rates
U.S. Treasuries extended a decline after China’s central bank cut its benchmark lending rate and reserve requirements for banks.
The yield on the 10-year Treasury note rose five basis points, or 0.05 percentage point, to 2.08 percent as of 7:39 a.m. in New York, according to Bloomberg Bond Trader data. The price of the 2 percent U.S. security maturing in August 2025 dropped 15/32, or $4.69 per $1,000 face amount, to 99 10/32.
The two-year yield added three basis points to 0.63 percent.
