Treasuries Advance for First Time in Week as Fed Purchases Bonds

Treasuries rose, pushing 10-year note yields down for the first time in a week, as the Federal Reserve made two purchases in its program to spur the economy by buying government debt.

The benchmark note yields increased earlier amid bets a Dec. 6 report forecast to show growing U.S. employment will reinforce arguments for the Fed to reduce its bond purchases. The central bank bought $4.7 billion in Treasuries in two operations, only the second time this year it has purchased government debt more than once in a day.