Treasury 30-Year Bonds Rise Before Fed Debt-Buying Announcement
This article is for subscribers only.
Treasury 30-year bonds advanced for the first time in five days as the Federal Reserve prepared to announce its schedule of purchases of longer-maturing debt under Operation Twist.
U.S. seven-year securities dropped after the government’s $29 billion auction drew a record low yield. Treasuries were headed for their biggest quarterly rally since the depths of the financial crisis in 2008 on concern Europe’s sovereign-debt crisis and a sluggish U.S. economy will undermine the global recovery.