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Treasuries Drop, Dollar Weakens on Moody’s Downgrade Warning as Gold Rises

July 14 2011, 09:09

FMX|Connect- WWW.FMXConnect.com (Reported on 7/14/2011)

Treasuries Drop, Dollar Weakens on Moody’s Downgrade Warning as Gold Rises

Source: Bloomberg

Treasuries and the dollar weakened while U.S. debt insurance costs climbed to the highest level in more than a year after Moody’s Investors Service said America may lose its Aaa rating. European stocks and Italian bonds declined as gold rose to a record for a second day.

The 10-year Treasury yield added three basis points to 2.91 percent at 8:35 a.m. in New York, and the Dollar Index retreated 0.2 percent. Credit-default swaps on U.S. debt jumped 7.5 basis points to 58, the highest since February 2010, according to CMA. Italy’s 10-year yield rose 17 basis points after a debt sale. To read full article, click here.

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