Treasuries Gain as Yields at Almost 11-Month High Lure Investors
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Treasuries rose for the first time in seven days as yields at almost the highest levels in 11 months attracted investors before the first of three sales this week of notes and bonds totaling $66 billion.
Benchmark 10-year note yields dropped earlier after data showing U.K. industrial production unexpectedly fell in January reignited concern global growth will slow. The U.S. is scheduled to sell $32 billion in three-year notes today, $21 billion of 10-year debt tomorrow and $13 billion of 30-year securities on March 14. Yields surged last week as stronger-than-forecast jobs data increased optimism that the U.S. economy is gathering pace.