Treasuries Gain After U.S. Confidence Drops More Than Forecast
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Treasuries rose, with 10-year note yields trading in the narrowest range in two weeks, after U.S. consumer confidence slid more than forecast and home sales fell.
Bonds pared gains as demand at a U.S. auction of $35 billion of two-year notes slid to the lowest level since 2011. Treasuries declined earlier as residential real-estate prices climbed in January by the most since June 2006. U.S. government securities rose yesterday after Cyprus won a European Union-led bailout that imposes losses on bondholders.