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US 10-Year Yields Sink to Record Low on Spain

US 10-Year Yields Sink to Record Low on Spain

Published: Monday, 23 Jul 2012 | 12:48 AM ET

U.S. 10-year Treasuries rallied in Asian trading on Monday, sending yields to historic lows, as heightened fears about Spain's ability to stave off a sovereign bailout prompted investors to seek out safe-haven fixed income assets.

Over the weekend, the Spanish region of Murcia said it would seek government financial assistance, and media reported half a dozen governments were ready to follow in the footsteps of Valencia, which said on Friday it would seek help.

Fears also rose about Greece's ability to stay afloat, after its prime minister said on Sunday that the country was in a "Great Depression" similar to the one in the 1930s, as international lenders were scheduled to gather in Athens to discuss the terms of further rescue payments.

Read more: http://www.cnbc.com/id/48279904

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absolute stupidity. lol

absolute stupidity. lol buying US paper at a ridiculous return.