Treasuries rose for the first time in four days as the highest yields in almost four weeks bolstered demand at the government’s $24 billion auction of 10-year notes, the second of three note and bond sales this week.
Treasury 10-year note yields fell to the lowest level this year as a report showing reduced business activity in April reinforced speculation the Federal Reserve won’t scale back unprecedented monetary stimulus.
Treasuries climbed, with 10-year notes poised for a second weekly gain, as concern that Cyprus’s banking crisis will worsen the euro area’s sovereign-debt turmoil stoked demand for the refuge of U.S. government debt.
Treasury bonds fell, pushing yields to almost the highest levels in 11 months before a $13 billion auction of the securities, as signs of a strengthening U.S. economy reduce demand for the longest-maturity U.S. debt.
Treasuries rose for a second week, paring a quarterly loss, as concern that Cyprus’s banking turmoil will worsen the euro area’s sovereign-debt crisis fueled demand for the refuge of U.S. government debt.
Treasury 10-year note yields rose for the first time in five days before a government report tomorrow that’s forecast to show job growth in the U.S. increased amid accommodative monetary policy from the Federal Reserve.