Treasuries Advance Amid Concern Europe’s Debt Crisis Unresolved
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Treasuries gained amid concern about the resolve of European officials in their efforts to contain the region’s sovereign debt crisis.
U.S. 30-year bond rose one point as German Chancellor Angela Merkel rejected a plan for joint euro-area bonds or making the European Central Bank the lender of last resort as quick fixes of the two-year-old crisis. A European proposal to channel central-bank loans through the International Monetary Fund may deliver as much as 200 billion euros ($270 billion) to fight the debt crisis, two people familiar with the negotiations said. Treasuries fell earlier after a report showed the U.S. unemployment rate declined to 8.6 percent in November.