Bull Run Stalls for Treasurys
NEW YORK--After a relentless two-day rally, the bull run in Treasurys hit the skids Friday with benchmark yields rising from the lowest level since the 1940s.</br></br>But the selloff only put a dent in the sharp run-up in bond prices this week. The 30-year bond was the biggest winner and its yield, which moves inversely to its bond price, tumbled about 0.47 percentage point for the week. That was the biggest weekly decline since December 2008 when Treasury prices soared on the financial crisis.</br></br>The benchmark 10-year note was 27/32 lower to yield 1.810%. The 30-year bond was 1 28/32 lower to yield 2.872%. The two-year note was 1/32 lower to yield 0.214%.</br></br>Some traders were quick to claim that it was a sign that a correction is due for the ferocious strength over the past seven months. The benchmark 10-year yield has tumbled from this year's peak of 3.77% in February and earlier Friday touched a fresh historic low of 1.672%.</br></br>Demand for safe-haven Treasurys had intensified this month due to rising fears about the global economy and the euro-zone's debt crisis. The Federal Reserve's announcement earlier this week to sell $400 billion short-dated bonds to buy longer-dated Treasurys triggered more flight into the 10-year and 30-year Treasurys. Investors are heartened that the Fed's buying binge in coming months could help boost the value of the bonds.