By The Associated Press
U.S. Treasury prices bounced back Tuesday as fears about global growth and stability rekindled demand for safe investments.
Federal Express said that it faces recession-like conditions in a stalled global economy. The company ships packages worldwide, so it is seen as a bellwether of broader economic activity.
Fear about instability in the Mideast and tensions between China and Japan added to demand for safe investments.
Treasurys had plunged last week as stocks rallied after the Federal Reserve said it will act aggressively to boost the economy. The yield on the 10-year Treasury rose to a four-month high of 1.87 percent late Friday.
On Tuesday, the price of the 10-year note rose 34.4 cents for every $100 invested, pushing its yield down to 1.81 percent late in the day from 1.84 percent late Monday.
The price of the 30-year Treasury bond rose 56.3 cents per $100 invested, pushing its yield down to 3.01 percent from 3.03 percent late Monday.
The yield on the two-year Treasury note rose to 0.27 percent from 0.25 percent late Monday.
The yield on the three-month Treasury bill rose to 0.10 percent from 0.09 percent late Monday.
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