NEW YORK ? Treasury prices climbed Wednesday as more signs of strain emerged in the European banking system.
The price of the benchmark 10-year Treasury note rose 75 cents per $100 invested. Its yield fell to 1.93 percent from 2 percent late Tuesday.
News that European lenders parked a record amount of cash with the European Central Bank rather than lend it to each other got investors worried. Also the yield on Italy's 10-year government bond was still dangerously high at 6.97 percent, even after two successful auctions of short-term debt.
The latest worries about Europe kept demand strong for Treasurys.
The yield on the 30-year bond fell to 2.92 percent from 3.03 percent as its price rose $2.19 per $100 invested. The yield on the two-year note fell to 0.27 percent from 0.29 percent.
The three-month T-bill paid a yield of 0.01 percent. Its discount was not available.
Trading was quiet in the holiday-shortened week. U.S. markets were closed Monday in observance of Christmas.
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