Treasuries Surge as Bets Evaporate That Fed Will Hike This Year

  • Bond market's inflation expectations at almost seven-year low
  • Ten-year note yield declines to lowest since Feb. 2015

Treasuries surged, pushing yields to the lowest in a year, as investors sought a haven from global financial-market tumult and traders wagered that the Federal Reserve will wait until late 2017 to raise interest rates again.

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