Treasuries Gain as TIPS Draw Record Bid Amid Flight From Turmoil
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Treasuries are in such demand that even amid plunging inflation expectations, a group of buyers including central banks bought a record amount at Thursday’s auction of inflation-protected securities.
Government debt was already advancing before the 1 p.m. New York time auction, led by the longest maturities, as slumping equity prices fueled investors’ quest for a haven.