BLBG:Treasuries Drop as Euro-Area Leaders Reach Agreement to Fight Debt Crisis
Treasuries fell, paring a weekly advance, after European leaders meeting in Brussels today agreed on measures aimed at resolving the region’s sovereign-debt crisis.
Benchmark 10-year yields halted a two-day slide after German Chancellor Angela Merkel said the leaders of the 17 euro nations agreed to tighten budget controls. French President Nicolas Sarkozy said the European Central Bank will manage Europe’s two bailout funds, the current European Financial Stability Facility and the planned European Stability Mechanism.
U.S. 10-year yields rose two basis points, or 0.02 percentage point, to 1.99 percent as of 1:31 p.m. in Tokyo, according to Bloomberg Bond Trader prices. The 2 percent security maturing in November 2021 fell 5/32, or $1.56 per $1,000 face amount, to 100 2/32. The rate is down four basis points for the week.
To contact the reporter on this story: Wes Goodman in Singapore at wgoodman@bloomberg.net; wgoodman@bloomberg.net; Kristine Aquino in Singapore at kaquino1@bloomberg.net.
To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net
Want to save this for later? Add it to your Queue!
