Treasury Prices Edge Up As Demand Remains Strong

Published December 22, 2011 10:09PM (EST)

NEW YORK (AP) — Treasury prices are slightly higher in late trading, but gave up some of their earlier gains.

The yield on the 10-year Treasury note edged down to 1.95 percent Thursday versus 1.97 percent late Wednesday. Its price rose 15.6 cents per $100 invested.

Trading was extremely quiet ahead of the Christmas holiday. With demand for safe investments still high as Europe grapples with its sovereign debt crisis, the bond market largely brushed off the latest sign of strength in the U.S. jobs market.

The number of people applying for unemployment benefits dropped last week to the lowest level since April 2008, the Labor Department reported.

The yield on the 30-year bond fell to 2.98 percent from 3 percent. Its price rose 40.6 cents per $100.

By Salon Staff

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