NEW YORK (AP) — Yields are touching new lows on debt issued by the U.S. government, a day after the Federal Reserve reaffirmed its commitment to low interest rates.
An auction of seven-year notes by the U.S. Treasury Thursday fetched the lowest yield ever of 1.359 percent, even though demand was tepid. There were $2.73 worth of bids for each dollar of debt sold. That was lower than the $2.87 average of the last four auctions.
The benchmark 10-year Treasury note rose 56.25 cents for every $100 invested. The higher price pushed its yield down to 1.93 percent from 1.99 percent late Wednesday.
The price of the 30-year bond rose $1.06 sending its yield to 3.09, down from 3.15 percent.