TREASURIES-10Y yield slips below 4 pct on stock decline
June 2nd, 2008 | by admin |NEW YORK, June 2 (Reuters) - The yield on U.S. 10-yeargovernment notes slipped below 4 percent on Monday, asinvestors favored bonds over stocks on worries about thebanking sector and rising prices squeezing corporate profits.
The 10-year note’s yield <US10YT=RR> yield, which movesinversely with its price, fell to 3.97 percent, down from 4.07percent late on Friday. Its price rose 23/32.
The three major U.S. stock indexes .DJI .SPX .IXICwere down as much as 1.45 percent in late morning trading. (Reporting by Richard Leong; Editing by James Dalgleish)
