U.S. Treasury prices are continuing to rebound as fears about global growth and stability rekindle demand for safe investments.
Federal Express said Tuesday that it faces recession-like conditions in a stalled global economy. FedEx ships packages worldwide, so its assessment is seen as a bellwether of broader economic activity.
Fears about instability in the Mideast and tensions between China and Japan added to demand for safe investments.
Treasurys had plunged last week as stocks rallied after the Federal Reserve said it will act aggressively to boost the economy. The yield on the 10-year Treasury rose to a four-month high of 1.87 percent late Friday.
The price of the 10-year note rose 43.75 cents, pushing its yield down to 1.79 percent as of 12:15 p.m. EDT from 1.84 percent late Monday.