Watch CBSN Live

Fears of global slowdown pushes up Treasurys

(AP) U.S. Treasury prices are rising as worrisome signals from overseas raise fears that a global slowdown will hurt higher-risk investments.

Stocks, oil, and metals prices all fell Thursday after a Chinese manufacturing index suggested that factory activity there is slowing. China has given the global economy crucial momentum since the financial crisis of 2008.

A separate survey measuring Europe's factory and service sectors also indicated contraction. As they sold higher-risk investments, traders moved money into Treasurys.

The price of the 10-year Treasury note rose 25 cents for every $100 invested, pushing its yield down to 2.27 percent as of 1:30 p.m. Eastern from 2.29 percent late Wednesday.

The yield rose earlier Thursday after the government said that new claims for unemployment benefits fell last week to a four-year low.

View CBS News In
CBS News App Open
Chrome Safari Continue