Mid-Session Interest Rate and Treasuries Report

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April 10th, 2012

June 30-Year Bonds trended higher throughout the morning hours, climbing to their highest level since March 8th. The boost in prices appeared to come from renewed interest in safe-haven instruments amid concerns over a slowing global economy and lingering European debt woes. The uncertainty pushed German Bund prices to their highest levels since September. Meanwhile, the rise in government debt prices pressured 10-Year Note yields back below 2%. Some traders indicated that the gains in the Treasury market might have been limited ahead of this week’s Treasury issuance of $66 billion in government debt, starting with today’s $32 billion 3-Year Note auction.

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