MW: Treasurys rally as global markets slide on financial woes
By Nick Godt
NEW YORK (MarketWatch) -- Treasurys rallied early Monday, sending yields sharply higher, as global markets tumbled as government bailouts in the U.S. last week and in Europe over the weekend failed to soothe nervous markets. Yields on benchmark 10-year Treasury notes , which move inversely to price, stood at 3.561%, down from 3.62% in late trade Friday. The German government stepped in to guarantee its retail deposits, and several other governments in Europe took actions to shore up ailing banks. Overnight lending rates jumped while stock markets in Asia and Europe tumbled. Futures for the S&P 500 index were last down 25 points, or 2.3%, at 1,082.
