NEW YORK (AP) — U.S. government bond prices are rising as concerns about Europe lure traders into the U.S. Treasury market.
In late Thursday trading, the price of the 10-year Treasury is up 34.3 cents for every $100 invested. The higher price lowered the 10-year yield to 1.61 percent from 1.66 percent late Wednesday. When bond prices rise, their yields fall.
Spain's prime minister reportedly said he would postpone asking other European countries for help. He and France's prime minister said they want the European Central Bank to help reduce borrowing costs for the region's struggling countries.
In the last auction this week, the Treasury raised $29 billion from a sale of seven-year notes Thursday. The notes were sold to yield 1.08 percent, a much lower borrowing rate than average this year.