US bonds sale faces market resistance

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By Ambrose Evans-Pritchard
Last Updated: 9:19PM BST 24 May 2009

The interest yield on 10-year US Treasuries – the benchmark price of long-term credit for the global system – jumped 33 basis points last week to 3.45pc week on contagion effects after Standard & Poor's issued a warning on Britain's "AAA" credit rating.

The yield has risen over 90 basis points since March when the US Federal Reserve first announced its controversial plan to buy Treasury bonds directly, a move designed to force down the borrowing costs and help stabilise the housing market.

US bonds sale faces market resistance - Telegraph

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