By The Associated Press
Treasury prices ended Friday mostly unchanged after an early rise caused by fears that Spain will require a bailout.
Such a move by Spain would rattle financial markets and boost demand for safe investments.
The price of the 10-year Treasury note rose 3 cents for every $100 invested. Its yield was 1.64 percent late Friday, unchanged from Thursday.
European leaders this weekend will discuss measures to help Spain's teetering banking system. Banks there have heavy losses from a burst real estate bubble and need government help to survive. Spain can't afford to prop them up.
Fears about instability in Europe increased demand for low-risk investments like Treasurys early Friday. Treasury prices had fallen for most of the week as stocks bounced back from a steep sell-off the week before.
Stocks rose Friday after the government said wholesalers are restocking their shelves faster than analysts had predicted. It was a rare whiff of optimism about the U.S. economy after weeks of disappointing data.
As traders bought stocks, they sold safer investments like Treasurys. The 10-year yield had been as low as 1.56 percent earlier Friday. It moved higher during the day as demand for Treasurys declined.
In other trading, the price of the 30-year Treasury bond fell 50 cents per $100 invested, pushing its yield up to 2.76 percent from 2.73 percent late Thursday.
The yield on the two-year Treasury note was unchanged at 0.27 percent. The yield on the three-month Treasury bill also stayed put at 0.08 percent.
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