Treasuries Advance as Fed Buys $1.889 Billion in Debt
This article is for subscribers only.
Treasuries rose for a fourth day as the Federal Reserve bought some of the 30-year bonds auctioned yesterday as part of its plan to keep borrowing rates low and investors sought a refuge from Europe’s sovereign-debt crisis.
Yields declined this week after investors showed higher-than-average demand at three- and 10-year note auctions and the International Monetary Fund cut global growth estimates. Yields briefly pared gains after a report today showed consumer confidence unexpectedly climbed to the highest level in five years.