Treasuries Gain on Safety Demand Amid Ukraine Turmoil

Treasuries climbed, pushing 10- and 30-year yields toward the lowest levels of the year, as demand for safety swelled amid the crisis in Ukraine and evidence the economic recovery is faltering from Germany to Australia.

The benchmark 10-year debt pared gains earlier as data showed average weekly claims for U.S. jobless benefits fell to an eight-year low over the past month. European Central Bank President Mario Draghi said heightened geopolitical risks could hurt growth. German two-year yields fell below zero for the first time since May 2013, and Australia’s securities jumped after unemployment surged to a 12-year high.