NEW YORK (AP) ? The U.S. government's borrowing rate is falling to a record low on fears that the economy might be hitting the skids even as the European debt crisis continues to roil markets.
The yield on the key 10-year Treasury note dropped to 1.54 percent Thursday morning as traders shifted money into U.S. government bonds, which are considered among the safest investments anywhere.
The price of the 10-year Treasury jumped 75 cents for every $100 invested. Rising demand for bonds lowers their yields.
The government released data that showed claims for unemployment benefits in the U.S. rose last week to a five-week high. Another report showed that the U.S. economy grew at an annual rate of 1.9 percent in the first three months of the year, slower than estimated earlier.
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