Treasury prices are rising after the European Central Bank failed to impress traders with the latest scheme to defuse the region's debt crisis.

Traders sold risky investments Thursday after the ECB said it will buy bonds issued by Italy and Spain to help reduce their borrowing costs, but didn't offer as many details as investors had hoped for. The head of the ECB had promised last week to do "whatever it takes" to save the euro.

Stocks sank, the euro fell against the dollar and traders sold bonds issued by the governments of Italy and Spain, sending their borrowing costs higher.

Money flowed into safer investments like Treasurys. The price of the 10-year Treasury note rose 40.6 cents for every $100 invested, pushing its yield down to 1.48 percent late Thursday from 1.52 percent late Wednesday.

The price of the 30-year Treasury bond rose 96.9 cents for every $100 invested, pushing its yield down to 2.55 percent from 2.59 percent late Wednesday.

The yield on the two-year Treasury note fell to 0.22 percent from 0.25 percent. The yield on the three-month Treasury bill fell to 0.09 percent from 0.10 percent late Wednesday.