Treasury Prices Surge Amid Global Growth Concerns

Treasury prices jumped Tuesday, sending yields sharply lower as bond traders fretted about the pace of global growth. Those concerns heightened after a measure of German economic sentiment turned negative for the first time in nearly two years and the German government slashed its growth forecasts for 2014 and 2015. The 10-year U.S. Treasury note yield, which falls as prices rise, was down 11 basis points on the day at 2.194%, according to Tradeweb. The 5-year note yield sank 12.5 basis points to 1.432%. The 10-year German bond fell 5 basis points to 0.842%, on track to close at a fresh record low.