Treasuries Gain as Fed Minutes Damp Faster Rate Rise Speculation

Treasuries rose, with 10-year yields reaching an almost four-week low, as Federal Reserve minutes damped bets policy makers were considering accelerated interest-rate increases and a decline in Chinese exports boosted safety demand.

The 10-year yield will end the second quarter at 2.95 percent, according to economists’ forecasts in a Bloomberg News survey conducted April 4 to 9, down from the prediction for 3 percent in a survey held March 7 to 12. The difference between yields on five- and 30-year debt reached a three-week high after falling to the least since 2009 last month. Thirty-year bonds rose before the Treasury sells $13 billion of the debt today, the last of three auctions of coupon-bearing debt this week.