Treasury 10-Year Notes Rise for a Fourth Week as Recovery Slows

Treasury 10-year notes rose for a fourth week, the longest run since February, on signs global economic growth is slowing, increasing the refuge appeal of the world’s most easily traded securities.

The yield on the two-year note fell to a record low, while the 10-year yield reached the least since March 2009 after European Central Bank council member Axel Weber said the central bank may need to keep emergency measures in place through year-end. Morgan Stanley, the most bearish of the 18 primary dealers that trade with the Federal Reserve, said its forecast that Treasury yields would rise this year was misguided.