MW: Treasurys up as investors reconsider European plan
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices rose on Tuesday, pushing yields down and retracing some of the big move on Monday, as investors reconsidered the ramifications of the European Union's and International Monetary Fund's massive rescue package on the euro and economic growth in the region, weighing on global equity markets. "Growing concerns over the IMF plans to bail out Europe is pressuring the euro and global stocks lower," said Tom di Galoma, head of U.S. rates trading at Guggenheim Partners. "As such, the bond market has firmed across the board." Yields on 10-year notes (UST10Y 3.53, +0.11, +3.18%) , which move inversely to prices, fell 4 basis points to 3.50%. Also sharing the spotlight for bond traders, the government will auction $38 billion in 3-year notes (UST3YR 1.36, +0.07, +5.25%) later in the session, which is $2 billion less than last month's sale.
