Treasury Yields at 6-Week Lows After Record 5-Year Note Sale

Treasuries rose amid concern contagion from the European crisis may slow global economic growth, pushing investors to snap up $35 billion in five-year notes at a record low yield.

U.S. 30-year bond yields fell to the lowest level in six weeks after the Fed purchased the securities today as part of a plan known as Operation Twist. The five-year notes sold today drew an auction record low yield of 0.937 percent, compared with a forecast of 0.951 percent in a Bloomberg News survey of nine of the Federal Reserve’s primary dealers. U.S. 10-year yields traded lower after a report showed the economy in the U.S. expanded less than previously estimated in the third quarter.