USA TODAY:…. Worsening concerns about Europe’s latest efforts to contain its debt crisis are keeping demand brisk for Treasury securities. The Treasury Department sold $13 billion worth of 30-year bonds at a record low yield of 2.925%.
Investors bid $3.05 for every dollar of bonds up for sale, much higher than the average of $2.81 over the past four auctions. Nomura securities analysts said in a note to clients that investors had an “insatiable appetite” for Treasuries.
A spike in borrowing costs for Italy increased demand for Treasuries as worries about Europe’s debt crisis worsened. Markets have been growing skeptical that a fiscal pact announced last Friday by European leaders will be enough to ease strains on Europe’s financial system and keep the euro intact… (more)
