Treasury 10-Year Notes Rise Before Bernanke Gives Economic View
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Longer-term Treasuries gained after the government’s $29 billion sale of seven-year debt drew a record low yield before an economic assessment from Federal Reserve Chairman Ben S. Bernanke tomorrow.
Current seven-year notes advanced as a group of investors including foreign central banks bought its biggest share of the auction since April. The 10-year note yield touched a 19-month low yesterday after reports showed new-home sales unexpectedly tumbled in July and orders for durable goods rose less than economists forecast.