Treasuries Rise Most in 8 Months as Greek Vote Adds Haven Demand

Treasuries rose, pushing yields down by the most since October, as concern Greece may exit the euro and trigger contagion across the region fueled demand for the safest fixed-income securities.

Benchmark Treasury 10-year yields plunged as the impasse in Europe dashed optimism that Greece would reach an agreement with its creditors. After improving U.S. economic data boosted the case for the Federal Reserve to raise interest rates as early as September, traders cut bets the Fed will raise rates this year as Greece’s crisis unfolds.