Treasuries Rise Second Week as Cyprus Crisis Fuels Haven Demand
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Treasuries gained for a second straight week as investors sought safety on speculation financial turmoil in Cyprus would worsen Europe’s three-year-old sovereign-debt crisis.
Bonds slipped today amid signs Cyprus was moving closer to European Union-led bailout. Benchmark 10-year note yields traded below 2 percent for a sixth day even after a Cypriot official said there may be a deal in the next few hours and lawmakers passed legislation on capital controls.