Treasuries Advance on Bets Fed Minutes to Indicate More Easing
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Treasuries gained, sending two-year note yields to a record low, as traders speculated minutes of the Federal Reserve’s September meeting will indicate policy makers are preparing to step up debt purchases.
The 10-year note yield approached the lowest level since January 2009 after Goldman Sachs Group Inc. said that September job losses “put the seal on” the case for the Fed to increase quantitative easing. Today’s $32 billion auction of notes maturing in October 2013 was poised to draw a record low yield.