Treasuries Rise Before Data Forecast to Show Retail Sales Drop
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Treasuries rose, snapping a decline from yesterday, on speculation data today will show U.S. retail sales fell for the first time in a year, supporting the case for the Federal Reserve to expand stimulus measures.
Demand for the perceived safety of U.S. bonds was bolstered before Italy sells government notes this week and Greece holds general elections on June 17 amid concern Europe’s debt crisis is spreading. The U.S. is scheduled to sell $21 billion of 10-year securities today in the second of three note auctions this week totaling $66 billion.