Bond yields fall on comments
by Elaine Frei
Prices were higher on US Treasury bonds on Thursday on comments made on a cable television network by the CEO of Countrywide Financial (NYSE: CFC).
Despite the fact that Bank of America (NYSE: BAC; TYO: 8648) said it would buy $2 billion worth of Countrywide shares, lessening pressure on the mortgage lender, investors paid more attention when Countrywide’s CEO said that problems in the credit market have not run their course because the slumping housing market is going to cause the US economy to enter a recession.
Two-year US Treasury bonds were at a yield of 4.14 percent, while ten-year issues yielded 4.613 percent and 30-year yields fell to 4.93 percent.
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