NEW YORK (AP) — Investors are slowly buying up U.S. Treasurys as they await details from European leaders on how they plan to support struggling countries in the region like Spain.
Last week, European Central Bank head Mario Draghi pledged to do whatever was needed to protect the euro. That launched a stock market rally, leading investors to safe-haven assets like U.S. government bonds.
On Monday, the 10-year Treasury note yielded 1.50 percent, down from 1.54 percent Friday. Its price rose 37.5 cents per $100 traded.
In other trading, the yield on the 30-year bond fell to 2.58 percent from 2.61 percent Friday. The price rose $1 for every $100 invested.
Draghi will have a chance to back up his words with an action plan when the central bank meets Thursday.