Treasuries Cheap Versus Peers in Blankfein’s ‘Brightest Spot’
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Treasuries are the cheapest versus their international counterparts in more than three years on speculation the Federal Reserve will curb its bond-buying program in the months ahead.
U.S. government securities due in 10 years or more yield 1.06 percentage points more than non-U.S. sovereign debt, the most since 2010, Bank of America Merrill Lynch indexes show. As recently as September 2012, Treasuries yielded less than the rest of the world on average. Lloyd Blankfein, the chief executive of Goldman Sachs Group Inc., said the U.S. is the “brightest spot” in the global economy.