Treasuries’ 2-Week Gain Biggest in Year as Bernanke Stays Course
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Treasuries posted the biggest two-week gain in almost a year as Federal Reserve Chairman Ben S. Bernanke said the central bank wouldn’t slow its monthly bond-buying program unless economic conditions warrant.
Ten-year yields retreated from the 2013 high reached earlier this month as Bernanke told congressional panels this week it was “way too early to make any judgment” about whether the biggest buyer of Treasuries will starting cutting back in September. The U.S. will sell $99 billion in notes next week.