Treasuries Gain for Second Week Amid Debt-Ceiling Stalemate

Treasury 10-year notes rose for a second week for the first time since November as the absence of progress toward resolving the impasse on raising the U.S. debt ceiling sustained demand for the safest securities.

The benchmark securities advanced yesterday for the fifth time in six days as the Federal Reserve purchased $8.797 billion of U.S. government securities in five operations as part of its effort to restore growth in the world’s largest economy. House Republicans are weighing a short-term extension of the government’s borrowing authority to spur President Barack Obama into negotiations on spending cuts. The Treasury will sell $15 billion of 10-year inflation-protected securities next week.