Treasury prices were mixed Monday as traders weighed concern over Europe's debt crisis against news that U.S. consumers are back to borrowing again.
Consumer borrowing jumped by $20.4 billion in November, the Federal Reserve reported Monday. That's the largest gain in a decade and a possible sign that Americans are reversing some of their thrifty habits.
The price of the 10-year Treasury note dipped after the report came out but was still slightly higher on the day. The note was up 3.12 cents for every $100 invested. Its yield fell to 1.96 percent from 1.97 percent late Friday.
Worries that Europe's debt troubles will turn worse kept demand high for ultra-safe Treasurys. Italy's long-term borrowing costs remained above 7 percent, even as the leaders of France and Germany met Monday to discuss the region's crisis.
Traders said Treasury prices are likely to slip this week as the government sells $66 billion in debt to banks and other bond buyers. The first auction of notes comes Tuesday with the sale of $32 billion in three-year notes.
In other trading Monday, the 30-year Treasury bond fell 12.5 cents for every $100. Its yield rose to 3.02 percent from 3.01 percent Friday. The yield on the two-year note was 0.26 percent, the same as Friday.
In the market for short-term bills, the three-month T-bill paid a 0.01 percent yield.
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