NEW YORK—Treasury prices rose Monday as investors shift their concerns about Europe's debt crisis to the larger Italian economy.
Italy's borrowing rates jumped to the highest level since the country adopted the euro. That increased pressure on Premier Silvio Berlusconi to resign and let a new government reform the country's spendthrift ways. Italy is the third-largest country that uses the euro, making it too big to be rescued in the same way that Greece, Portugal and Ireland were.
Those concerns pushed up the prices of safe assets like Treasurys. The yield on the 10-year Treasury note fell to 2.01 percent from 2.04 percent late Friday. Its price rose 28.1 cents per $100 invested.
The yield on the 30-year bond fell to 3.05 percent from 3.09 percent. Its price rose 84.4 cents.
In other trading, the yield on the two-year Treasury note was flat at 0.23 percent. The three-month T-bill yielded 0.01 percent, unchanged from late Friday. Its discount wasn't available.