Treasuries Climb as Drop in Global Equities Spurs Safety Demand

Treasuries rose, pushing 10- and 30-year yields down the most in almost two months, as a slide in stocks around the world increased demand for the relative safety of U.S. government securities.

Bonds extended gains after ADP Research Institute said U.S. companies added fewer workers than forecast. The government will report June 7 that nonfarm payrolls increased by 165,000 jobs last month, matching April’s gain, a Bloomberg survey estimated. Investors are weighing whether the Federal Reserve will slow its bond purchases under quantitative easing amid stronger growth. The economy has expanded at a “modest to moderate” pace in most of the U.S., the central bank said today.