Treasury Yields Near 3-Month Low on European Slowdown

Treasury 10-year yields approached the lowest level in almost three months as manufacturing contracted in Europe and private employers in the U.S. added fewer workers than forecast, underpinning demand for the safest assets.

The Treasury, in its quarterly refunding announcement, delayed decisions on whether to sell floating-rate securities and bills with negative yields at government auctions for the first time. The U.S. will issue $32 billion in three-year notes, $24 billion in 10-year debt and $16 billion in 30-year bonds on three consecutive days beginning May 8, the same amounts sold in each so-called refunding month since November 2010.