Bloomberg News

Treasury Yields Fall From Almost One-Month High on Greece Debt

January 24, 2012

Jan. 24 (Bloomberg) -- Treasury 10-year yields fell from almost the highest level in more than a month amid a stalemate between regional policy makers and Greek bondholders over how to resolve the nation’s debt crisis.

U.S. two-year notes were little changed as the government prepared to sell $35 billion of the securities and the Federal Reserve gathered to begin a two-day policy meeting.

“Greece is a background factor for headwinds to growth,” said David Robin, an interest-rate strategist in New York at Newedge USA LLC, an institutional-brokerage firm. “The consensus view is that the Fed is going to extend the time line for keeping its target rate low.”

The 10-year yield fell one basis point, or 0.01 percentage point, to 2.04 percent at 8:50 a.m. in New York, according to Bloomberg Bond Trader prices. The 2 percent note maturing in November 2021 traded up 3/32, or 94 cents per $1,000 face amount, at 99 21/32.

--Editors: Kenneth Pringle, Dennis Fitzgerald

To contact the reporters on this story: Liz Capo McCormick in New York at emccormick7@bloomberg.net; Keith Jenkins in London at kjenkins3@bloomberg.net

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net


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