Treasuries Advance on Speculation Fed Will Maintain Bond-Buying
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Treasuries rose for a second day on speculation the Federal Reserve led by Chairman Ben S. Bernanke won’t signal a change next week in its program of $85 billion a month in bond purchases.
Benchmark 10-year securities fluctuated earlier as a gauge of July consumer confidence exceeded forecasts. U.S. debt is poised to end two weeks of gains after the U.S. sold $99 billion of notes over the previous three days, including seven-year debt at the highest yield since July 2011. Analysts predict data next week will show American home prices rose at the fastest in seven years in May and the jobless rate fell this month.