Treasury: 10-year debt fetches record low yield

The U.S. Treasury Department in Washington, DC
KAREN BLEIER/AFP/Getty Images/File

(AP) NEW YORK - U.S. government bond prices are higher after a Treasury auction of 10-year debt fetched a record low yield.

Global markets continued to be nervous ahead of elections in Greece this weekend.

The Treasury Department raised $21 billion from a sale of 10-year notes at a yield of 1.62 percent. Bond buyers placed $3.06 in bids for every $1 on offer, lower than the $3.29 average of the previous four.

Tuesday afternoon, the 10-year Treasury note rose 53.12 cents for every $100 invested. The 10-year yield fell to 1.60 percent, compared with 1.66 percent late Tuesday.

The price of the 30-year Treasury bond rose $1.31 for every $100. That pushed its yield down to 2.71 percent from 2.77 percent late Tuesday.

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