Treasuries Post Biggest 2-Week Gain in Year on Bernanke Comments
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Treasuries posted the biggest two-week gain in almost a year after Federal Reserve Chairman Ben S. Bernanke quelled concern that a reduction of monetary stimulus was imminent.
Ten-year yields fell from the 2013 high reached earlier this month after Bernanke said yesterday it was “way too early to make any judgment” about starting tapering in September. The previous day, he said the Fed’s quantitative easing is “by no means on a preset course.” Policy makers, who have kept the benchmark interest-rate target at zero to 0.25 percent since 2008, next meet July 30-31. The U.S. will sell $99 billion in notes next week.