Summary Box: Steep drop in July home sales sends investors seeking refuge in Treasurys
By APTuesday, August 24, 2010
Summary Box: Housing slump sends bond yields lower
MORE BAD NEWS: The latest sign of weakness in the economy sent weary investors piling back into Treasurys. The yield on the two-year note reached another record low.
HOUSING SLUMP: A steep 27 percent plunge in existing home sales last month gave investors even more reason to be doubtful about the economy.
YIELDS KEEP FALLING: Longer-dated Treasurys also benefited from the rush to safety. The 10-year note’s yield fell to 2.49 percent from 2.60 percent.
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