NEW YORK ? Treasurys rose Monday as the stock market sank due to worries about debt woes in Washington and Europe.
Bond prices rose after the Dow Jones industrial average fell as many as 342 points. It ended down 249.
Stocks fell after a congressional panel appeared ready to declare failure in its mission to cut the budget deficit by $1.2 trillion. Moody's also said it might downgrade France's credit rating.
Strong demand at an auction for two-year Treasury notes also sent bond prices higher. The Treasury department sold $35 billion of the notes at yield of 0.28 percent.
The yield on the 10-year Treasury note fell to 1.97 percent. It was 2.01 percent late Friday. The price of the note rose 43.8 cents per $100 invested.
The yield on the 30-year bond fell to 2.95 percent. Its price rose 87.5 cents per $100 invested. The yield on the two-year note was 0.27 percent.
The three-month T-bill paid a yield of 0.01 percent. Its discount wasn't available.
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