Treasuries Advance Before Projected Fed Guidance Revisions

Treasuries rose for the first time in three days amid speculation the Federal Reserve will tie future interest-rate increases to a range of economic indicators rather than just the jobless rate.

Benchmark 10-year yields traded in the tightest range in a week as Western leaders condemned Russian President Vladimir Putin’s push to annex Crimea and promised further sanctions. Treasuries held by investors outside the U.S. rose to a record, according to Treasury data. Bill Gross, manager of the world’s biggest bond fund, said the Fed will “focus on inflation” and keep its key borrowing rate at almost zero until late 2015 as the central bank completed the first day of a two-day meeting.