By The Associated Press
Treasury prices rose Thursday as investors worried over disappointing June retail sales.
The yield on the benchmark 10-year Treasury note fell to 1.60 percent Thursday from 1.63 percent late Tuesday. Bond trading was closed Wednesday for the Fourth of July holiday. The price of the 10-year note rose 31 cents for every $100 invested.
Treasury prices indicate how much investors have to pay for bonds issued by the U.S. government, which are considered some of the safest investments in the world. When investors are nervous about the economy, demand for the bonds goes up and so does the price. The yield, which is the interest rate the government has to pay to persuade people to buy the bonds, goes down when that happens.
U.S. stocks mostly fell on Thursday. June sales figures from retailers like Target indicated that Americans have slowed their spending. Investors were also surprised when China cut interest rates for the second time in a month. That caused investors to worry that the downturn in the world's second-largest economy may be worse than previously known.
The yield on the 30-year bond fell to 2.72 percent from 2.75 percent. Its price rose 56 cents for every $100 invested.
The yield on the two-year note fell to 0.29 percent from 0.31 percent. The yield on the three-month T-bill held steady at 0.08 percent.
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