Interest rates slide on concerns rebound will stall; 10-year yield drops to April 2009 level
By APMonday, June 28, 2010
Interest rates extend drop on fears of slowdown
NEW YORK — Interest rates have fallen to new lows for the year in the bond market after concerns grew that a global rebound is stalling.
The yield on the benchmark 10-year Treasury note maturing in May 2020 has fallen Monday to 3.03 percent from 3.11 percent Friday. That was the lowest yield since April 2009. Its price rose 78.125 cents per $100 in face value to $104.03125.
The drop in rates is welcome news for borrowers because the 10-year yield is tied to interest rates on mortgages and other consumer loans.
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