By The Associated Press
NEW YORK (AP) - Treasury yields fell to near record lows Monday after a disappointing retail sales report sent traders out of stocks and into the relative safety of U.S. government debt.
The yield on the benchmark 10-year Treasury note dropped to 1.46 percent from 1.49 percent late Friday. Earlier in the day, the yield touched 1.44 percent, near a record set on June 1.
The price of the 10-year note rose 28 cents for every $100 invested.
The Dow Jones industrial average fell 50 points to 12,727 after the government reported retail sales fell 0.5 percent in June from the month before. It was the third straight monthly drop. The last time that happened was the fall of 2008 during the global financial crisis.
Also weighing on stocks was news that the International Monetary Fund is now forecasting the global economy to grow 3.9 percent in 2013, down from its estimate of 4.1 percent in April.
The price of the 30-year Treasury bond rose 38 cents per $100 invested. Its yield fell to 2.56 percent from 2.60 percent late Friday.
The yield on the two-year Treasury note fell to 0.23 percent from 0.26 percent. The yield on the three-month Treasury bill was unchanged at 0.09 percent.
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