- NEW YORK: US government bond prices are falling as European leaders near an agreement on revamping their approach to the region’s debt crisis.
The yield on the benchmark 10-year Treasury note edged back above 3 percent for the first time since July 8.
Top European officials were meeting in Brussels to discuss an overhaul of how a regional rescue fund would work. The new debt plan would also ease the terms on emergency loans to Greece, Ireland and Portugal.
Bond prices fell as investors moved money into higher-risk assets like stocks. The 10-year note fell 66 cents per $100 invested late Thursday. Its yield rose to 3 percent from 2.93 percent late Wednesday. Bond yields rise when their prices fall.