Treasuries Advance Before Bernanke Speaks at Jackson Hole

Treasuries rose, pushing 10-year yields almost to a two-week low, on speculation Federal Reserve Chairman Ben S. Bernanke will use his Aug. 31 speech in Jackson Hole, Wyoming, to outline the case for more bond purchases.

Five-year yields extended declines from last week before the U.S. auctions the securities among $99 billion of note sales this week. Chicago Fed President Charles Evans called for another round of asset purchases under quantitative easing. The central bank has already conducted two rounds to pump cash into the banking system.