Treasuries rose as Federal Reserve Chairman Ben S. Bernanke refrained from endorsing the use of additional stimulus measures while a government report showed economic growth slowed more than forecast last quarter.
Treasury 10-year notes rose for an eighth day, the longest run of gains since December 2008, as investors sought safety with Spanish debt yields climbing toward levels that prompted other European nations to seek bailouts.
Treasuries fell amid bets the Federal Reserve will push on with reductions to its bond- purchase program, viewing weak economic data this year as reflecting harsh weather rather than a faltering recovery.
Treasuries declined, with 10-year yields climbing from a two-month low, as the U.S. sold $64 billion of notes, the first time it conducted two fixed-coupon debt auctions in a single day since October 2008.
Treasury 10-year note yields fell from almost the highest level in three weeks on speculation the Federal Reserve may keep its target interest rate at almost zero for an extended period when it starts stimulus cuts.