MW: Treasurys gain on news from China, Greece, Alcoa
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices gained early Tuesday, pushing yields down for a third day, as a combination of news regarding China, Greece and Alcoa raised concerns about the outlook for economic growth and increased the relative attractiveness of U.S. debt. The gains will help the government sell 3-year notes (UST3YR 1.45, -0.05, -3.46%) during the session, the second of four big auctions this week. Yields on benchmark 10-year notes (UST10Y 3.72, -0.09, -2.44%) fell 8 basis points to 3.74%. Gains began in Asian trading as China took actions that have been interpreted as an attempt to contain lending and slow growth. Also, there were more rumblings of problems with Greece's finances and Alcoa (AA 15.98, -1.47, -8.42%) kicked off the U.S. earnings season with worse-than-expected quarterly results.
