Treasury Five-Year Yield Falls to Record as GDP Misses Forecast

Treasury five-year note yields fell to a third consecutive record low after slower-than-forecast U.S. growth added to speculation the Federal Reserve will expand asset purchases to spur economic growth.

Ten-year notes rose as stockpile rebuilding accounted for 1.9 percentage points of the 2.8 percent economic expansion, sparking concern growth may be weaker than expected in the first three-months of this year. New York Fed President William C. Dudley said the economy will probably slow this year while confronting risks “skewed to the downside.”