MONTH LOW. IN TOKYO, THE NIKKEI AVERAGE CLOSED 1.8 PERCENT LOWER, BELOW 16,000 POINTS FOR THE FIRST TIME IN MORE THAN TWO MONTHS, AS OIL PRICES PRESSURED ENERGY-RELATED STOCKS. INVESTORS' GROWING RISK AVERSION TO COMMODITIES AND STOCK MARKETS BURNISHED THE ALLURE OF GOVERNMENT DEBT. "U.S. GOVERNMENT BONDS HAVE BECOME CHEAP ENOUGH TO ATTRACT INVESTORS OUT OF RISKIER ASSETS AT A TIME WHEN FEARS HAVE BEEN HEIGHTENED ABOUT A SLOWING IN THE ECONOMY LED BY HOUSING," SAID WILLIAM O'DONNELL, HEAD OF U.S. INTEREST RATE STRATEGY AND RESEARCH WITH UBS IN STAMFORD, CONNECTICUT. THE 10-YEAR U.S. TREASURY NOTE ROSE 11/32, WITH THE YIELD AT 5.02 PERCENT. THE 2-YEAR U.S. TREASURY NOTE WAS UP 2/32, WITH THE YIELD AT 4.93 PERCENT. THE 30-YEAR U.S. TREASURY BOND WAS UP 16/32, WITH THE YIELD AT 5.11 PERCENT. IN CURRENCIES, THE DOLLAR WAS DOWN AGAINST A BASKET OF MAJOR TRADING-PARTNER CURRENCIES AFTER SOME EUROPEAN FINANCE MINISTERS SAID THEY WERE NOT CONCERNED ABOUT THE LEVEL OF THE EURO, WHICH HAS RISEN 8.5 PERCENT THIS YEAR AGAINST THE DOLLAR. THE EURO WAS UP 0.56 PERCENT AT $1.2842 FROM A PREVIOUS SESSION CLOSE OF $1.2771. AGAINST THE JAPANESE YEN, THE DOLLARWAS DOWN 0.02 PERCENT AT 111.66 YEN FROM A PREVIOUS SESSION CLOSE OF 111.68.
