Treasuries Gain as U.S. Economic Growth Is Slower Than Forecast

Treasuries rose, pushing 10-year note yields down the most in two weeks, as a report showing the economy expanded less than forecast in the first quarter sustained the refuge appeal of the world’s safest assets.

The benchmark yields fell toward the lowest level in more than four months as another report showed consumer confidence fell in April, a sign the economic slowdown extends into the second quarter. Treasury volatility as measured by options rose from a record low reached yesterday. The Federal Reserve meets next week amid speculation it may taper its $85 billion monthly asset purchase program.