Tresauries Climb as European Bonds Advance on ECB Bets
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Treasuries rallied, pushing yields on 30-year bonds to the lowest level in almost a year, as gains in European debt markets raise the relative attractiveness of U.S. government securities.
A U.S. auction of $35 billion of five-year notes attracted higher-than-average demand. Sovereign bonds across Europe rose as an unexpected jump in unemployment in Germany, the region’s biggest economy, fueled bets the European Central Bank will introduce further stimulus at its meeting next week.