the stocks declining due to bad US housing data, treasuries rallied stroking demand for safe government debt. Peter Chatwell, a fixed-income strategist in London at Calyon, the investment-banking unit of Credit Agricole SA, said: "Risks and stocks remain a prevalent mechanism driving bonds at the moment. The uncertainty in the stock market will support bonds in the near term, although our bigger-picture view is that bond yields will rise further.”
The yield on a 10-year US treasury was down by six basis points at 3.33%.
The yield on a 10-year US treasury was down by six basis points at 3.33%.