Treasury 30-year bonds advanced before a $16 billion sale of the securities as investors sought the safest assets amid concern the euro region’s debt crisis isn’t yet resolved.
Investors outside the U.S. have boosted their holdings of longer-maturity Treasuries to the highest level since the credit markets froze in 2008, helping curb rising yields amid concern inflation is accelerating.
Treasuries headed for a third weekly gain before a U.S. report that economists said will show manufacturing grew at the slowest pace in 10 months in September.
"I do not think investors will just keep buying bonds thinking it's the end of the world."
- Satoshi Okumoto on Oct 16, 2014