Treasuries Gain on Japan Speculation Before 3-Year Sale
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Treasuries advanced on speculation the Bank of Japan’s plan to double its asset purchases may boost buying at today’s $32 billion three-year note auction.
Yields on benchmark 10-year securities dropped to almost the lowest level since December before the Treasury sells $66 billion of note an bonds at three auctions this week. The yields traded below 2 percent for the third straight week as Federal Reserve Chairman Ben S. Bernanke signaled in a speech yesterday that there was room for improvement in the economy, spurring bets the central bank will maintain asset purchases.