Treasuries Rise Sixth Day on Europe Crisis Concern, U.S. Outlook
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Treasuries rose for a sixth day as European leaders clashed on ways to curb the region’s debt crisis and economists said data on durable-goods orders and consumer spending this week will show a sluggish U.S. recovery.
Ten-year notes extended their daily rally to the longest in more than a year after German Chancellor Angela Merkel and French President Francois Hollande disagreed over the weekend on a timetable to introduce joint oversight of the region’s banking sector. U.S. investors are buying Treasuries at a faster pace than foreigners for the first time since 2010, government figures show. The U.S. will sell $99 billion in notes this week.