Interest rates turn higher as investors brush off Greece downgrade

Interest rates rise despite Greece downgrade

NEW YORK — Interest rates are rising in the bond market as investors largely shrug off a downgrade of Greece’s debt.

The low demand for Treasurys is sending yields higher Monday. The yield on the 10-year note, which is tied to rates on mortgages and other consumer loans, is up to 3.28 percent from 3.24 percent.

The price on the note is down 31.25 cents to $101.84375.

Moody’s lowered its rating on Greece’s debt to “junk” status. The move wasn’t a surprise; Greece’s bonds have been trading at or near junk levels for weeks as investors worry the debt-laden European country could default.