Rates Rise as Bernanke Says New Recession Unlikely
Bernanke's comments are helping boost stocks Tuesday, ending a two-day slump. The stock market rebound is reducing demand for safer investments likes Treasurys, driving rates higher.
The yield on the 10-year note, which is tied to rates on mortgages and other consumer loans, is up to 3.19 percent from 3.15 percent late Monday. The price on the note maturing in May 2020 is down 34.375 cents to $102.625.
Bernanke's comments Monday evening are helping calm investors' fears that Europe's debt crisis could spread across the Atlantic and derail the U.S. economic recovery.