Treasuries Rise 8th Day, Longest Since 2008 on Safety Bid
This article is for subscribers only.
Treasury 10-year notes rose for an eighth day, the longest run of gains since December 2008, as investors sought safety with Spanish debt yields climbing toward levels that prompted other European nations to seek bailouts.
Yields on the benchmark U.S. securities dropped to a two-week low as gauges of inflation expectations receded from the highs reached after the Federal Reserve announced a third round of debt purchases, or quantitative easing. Investor demand for a haven pushed the yields on the $35 billion in U.S. five-year notes slated to be sold today close to record auction lows.