Skip to content
Subscriber Only

Treasuries Rise a Third Day Amid Pessimism on Cliff

Treasuries rose for a third day amid speculation U.S. lawmakers will struggle to reach agreement in time to avoid the so-called fiscal cliff of more than $600 billion in automatic spending cuts and tax increases.

Ten-year notes gained for the first week in a month, pushing the yield below its 200-day moving average of 1.74 percent, as congressional leaders met with President Barack Obama to discuss the stalemate while the year-end deadline approached. The Federal Reserve bought $5 billion of Treasuries in the last purchase under its Operation Twist stimulus program.