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Treasuries Gain Most in 2 Weeks on Auctions Amid Russia Tension

Treasuries rose the most in almost two weeks as the cheapest five-year note auction in almost three years spurred demand for the securities amid rising tensions over Russia’s annexation of Crimea.

U.S. debt extended gains after President Barack Obama said Russia “miscalculated” and that sanctions could escalate. A drop in capital-goods orders earlier eased concern the Federal Reserve is moving closer to raising interest rates and bolstered investor demand at government-debt auctions. Citigroup Inc.’s capital plan was among five that failed central-bank stress tests.