Treasuries Rally as Yellen Sees Low Inflation Declining Further
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Treasuries climbed for the first week in February amid speculation the Federal Reserve won’t rush to raise interest rates after Chair Janet Yellen said below-target inflation will fall further before rising.
Benchmark 10-year notes rallied Friday as New York Fed President William C. Dudley said there’s reason for caution on how soon to increase borrowing costs amid low inflation and “lingering headwinds” from the financial crisis. A report next week is forecast to show the U.S. added more than 200,000 jobs for a 12th straight month in February.