Treasuries Fall Second Day as Services Industries Expand

Treasuries declined for a second day as a report showed U.S. services industries expanded at the fastest pace in a year, damping demand for the safety of U.S. government securities.

Benchmark 10-year yields rose as risk appetite climbed after China vowed to maintain its growth target and euro-area manufacturing and services shrank less than forecast. The yields touched a five-week low yesterday. The Dow Jones Industrial Average rose to a record high today. Data on March 8 will show U.S. employers added 160,000 jobs last month after an increase of 157,000 in January, a Bloomberg News survey forecast.