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Treasury Yields Approach Year Lows After Durable Goods Decline

Treasury 10-year note yields approached the lowest level of the year after a government report showed orders for U.S. durable goods fell in March by the most in seven months, boosting demand for the safest assets.

The U.S. sold $35 billion in five-year securities at a yield of 0.71 percent, the lowest at an auction since November, while demand was the highest in three months. The U.S. Commerce Department reported bookings for goods meant to last at least three years fell 5.7 percent in March, exceeding the median forecast for a 3 percent drop, according to a Bloomberg survey of 78 economists.