RENEE MONTAGNE, host:
NPR's business news starts with gains for U.S. treasuries.
(Soundbite of music)
MONTAGNE: Weeks of political wrangling over the debt ceiling sparked fears of the first-ever downgrade of U.S. debt. Worried investors sought safe haven in U.S. treasuries. Bloomberg reports that for July, investors who held U.S. bonds did quite well. For every 10 million invested, they reaped a profit of 183,000. U.S. bonds returned about three times more than the rest of the global sovereign bond market.
Gains in the bond market can indicate economic fear, though. That fear was evident in the stock market yesterday. U.S. stocks plummeted more than two percent. Transcript provided by NPR, Copyright NPR.