U.S. Treasury yields inched up Friday a day after the yield on the 10-year note brushed near a record low.
The yield on the benchmark 10-year note rose to 1.71 percent late Friday from 1.69 percent Thursday. Its price fell three cents for every $100 invested.
Thursday’s yield was the lowest end-of-day level on Federal Reserve Bank of St. Louis records dating to 1953. Real-time financial data providers recorded a lower intraday yield of 1.67 percent in September.
Traders have been funneling cash into safe investments like Treasurys because they fear that Europe’s festering debt crisis will spin out of control. Moody’s downgraded the credit ratings of 16 Spanish banks late Thursday, and Fitch pushed Greece deeper into junk-investment status.
Global leaders are preparing to meet near Washington this weekend to discuss the future of the euro. It looks more likely that Greece will exit the currency union.
In other trading, the yield on the 30-year Treasury bond rose to 2.80 percent from 2.79 percent late Thursday. Its price fell 22 cents per $100 invested. The yield on the two-year Treasury note was unchanged at 0.31 percent.
In the market for short-term debt, the yield on the three-month T-bill fell to 0.07 percent from 0.09 percent.
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