Treasuries Fall, Snapping 2-Day Gain, on ECB Speculation

Treasury 10-year note yields climbed from the lowest level in almost a month on speculation the European Central Bank will announce measures as soon as this week to ease the euro region’s debt crisis.

The 10-year yield earlier fell to a four-week low before data today that economists said will show manufacturing is struggling to expand, giving the Federal Reserve ammunition to boost bond purchases in the form of quantitative easing to spur growth. ECB President Mario Draghi told lawmakers yesterday he would be comfortable buying government debt with maturities of as much as about three years to bring down borrowing costs for nations in distress.