Treasuries Rise Most in Almost Two Weeks on IMF Cuts

Treasuries rose the most in three weeks as stock markets declined after the International Monetary Fund cut its economic forecasts and said there is an “alarmingly high” risk of a steeper slowdown.

The gains pushed 30-year bond yields down from within a basis point of the highest level in more than two weeks as investors sought the securities as a haven. U.S. debt was also buoyed as European Union ministers prepared to meet in Luxembourg amid a lack of clarity about whether Spain will ask for external financial aid. The U.S. plans to sell three-year notes today, the first of three auctions of coupon-bearing Treasuries this week totaling $66 billion.