Treasuries Snap Gain as U.S. Prepares $35 Billion 5-Year Sale

Treasuries snapped a gain from yesterday on speculation demand will decline when the U.S. sells $35 billion of five-year notes today with yields near the lowest since 2008.

Ken Fisher, the chief executive officer of Fisher Investments Inc. who was listed as a billionaire last year on Forbes.com’s website, said people are too pessimistic. Pacific Investment Management Co.’s theory that developed nations are in a “new normal” era of slower-than-usual expansion in gross domestic product is “idiotic,” he said.