Treasury 10-Year Yield Below 2% as Europe Debt Crisis Fuels Refuge Demand

Bloomberg reports:

Treasuries rose, pushing the yield on the 10-year note down for a second week, as concern the European debt crisis may escalate drove investors to the safety of U.S. government debt.

Benchmark 10-year yields closed at less than 2 percent for the first time in eight weeks and fell below comparable German bunds. The yield difference widened to 0.31 percentage point, the most since April 2009, as borrowing costs in the European region soared. U.S. auction yields dropped to record lows as the Treasury sold $99 billion in notes. A report Dec. 2 is forecast to show the U.S. added 120,000 jobs in November.