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Treasuries Advance Amid Concern Greece Considers Debt Default

Treasuries rose, with the yield on the 30-year bond dropping from almost the highest level in more than a week, amid concern Greece may default on its debt.

The yield on the 10-year note fell after a report that Greece’s Prime Minister Lucas Papademos requested the country’s finance ministry to prepare a document on the implications of a Greek default. Treasuries fell earlier before an auction of $32 billion in three-year notes tomorrow. The Federal Reserve purchased $1.8 billion in long-term Treasuries today.