Treasuries Rise for First Time in Four Days on Greece
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Treasuries rose for the first time in four days on speculation Europe’s rescue package for Greece won’t resolve the region’s debt crisis and as the U.S. sold $35 billion of five-year notes.
U.S. 10-year notes yields fell from a four-week high as Fitch Ratings lowered Greece’s credit rating and said a default is highly likely. The Federal Reserve bought $1.84 billion of longer-maturity Treasuries today. The U.S. will sell $29 billion in seven-year notes tomorrow, the final of three auctions this week totaling $99 billion.