Treasurys drop after Europe auctions go well (AP)

NEW YORK ? Treasury prices are lower after France and Spain had successful auctions of new debt.

The strong demand for French and Spanish bonds eased fears in the markets about Europe's debt problems. That diminished the appeal of ultra-safe U.S. government debt, sending yields on Treasurys slightly higher.

The yield on the benchmark 10-year Treasury note rose to 2.10 percent Thursday from 2.08 percent late Wednesday. Its price fell 25 cents per $100 invested.

Demand for safety assets was also weakened after Mario Draghi, the European Central Bank president, made comments in a speech to the European Parliament suggesting that the ECB was prepared to play a larger role in addressing Europe's debt crisis.

The yield on the 30-year bond rose to 3.10 percent from 3.06 percent. Its price fell 71.9 cents.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20111201/ap_on_bi_ge/us_credit_markets

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