NEW YORK (AP) — Investors are piling into U.S. Treasurys as Greece's political turmoil continues. A batch of 10-year notes was sold at a record low yield.
The government sold $24 billion of 10-year notes at an auction Wednesday at a yield of 1.86 percent. That beat the previous record of 1.90 percent set in January.
The yield on notes already in circulation was trading at 1.84 percent, unchanged from late Tuesday.
Yields on German and British bonds also fell as investors dumped the debt of other European countries seen as greater credit risks. Borrowing costs for Spain and Italy rose sharply, reflecting increasing unease about their finances.
In Greece, a far-left politician opposed to drastic spending cuts agreed to by the former leadership struggled to form a government folllowing inconclusive elections on Sunday.