World Economy

Pessimism Fades

Pessimism FadesPessimism Fades

Treasuries registered back-to-back weekly losses for the first time this year as a lessening of turmoil in Greece reduced demand for the safest assets and the outlook for higher US borrowing costs prevailed, Bloomberg reported. Yields on benchmark 10-year notes closed the week above 2 percent for the first time since January amid optimism that leaders in Greece and the European Union will compromise on the nation’s bailout program and as global economic prospects improved. Ten-year yields have climbed 41 basis points since falling to a 1 1/2-year low in January. Some of the pessimism is beginning to fade in the US.