The last time the U.S. saw job gains like those so far this year, the Dow Jones Industrial Average breached 10,000 for the first time, rapper Eminem released his first major album and the Y2K specter loomed large. In other words, it’s been a while.
The Treasury’s auctions of $95 billion of coupon-bearing notes this week drew the most bids since February even as a surge in global demand for government debt drove yields to the lowest levels in a year.
Treasury bonds rose, pushing yields to a 10-month low, as investors looked past a report showing the U.S. added more jobs than forecast last month and sought a refuge from escalating tensions in Ukraine.
David Ader survived a heart attack in a jet over the Atlantic, missed a chance to work at the CIA thanks to his friend the international spy, changed jobs during the worst financial crisis in a lifetime and helped upstart CRT Capital Group LLC almost double revenue in two years.
Treasuries rose for the fourth time in five weeks as the escalating conflict between Russia and Ukraine as well as weaker-than-forecast reports on housing and jobs spurred demand for the safety of U.S. government debt.