AUGUST 8, 2011, 2:42 P.M. ET Treasury Prices Surge As Stocks Sell Off; 10-Yr Yield Lowest Since Jan '09
By Min Zeng
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Investors continued to pile into the Treasury market for safety Monday and the huge buying sent benchmark yields to the lowest level since January 2009.
Buying accelerated in the late-afternoon as U.S. stocks extended a selloff. Shares of U.S. big banks tumbled, led by Bank of America and Citigroup, underscoring heightened anxiety about the global economic outlook.
