US Treasuries Gain as Stocks Fall, Traders Cling to Fed Cut Bets

The US Treasury building in Washington.

Photographer: Al Drago/Bloomberg

Treasuries closed higher as US equities fell and traders clung to bets on a Federal Reserve interest-rate cut next month after a mixed jobs report.

Yields fell as much as five basis points with the rate on two-year notes — which track expectations in monetary policy — dropping to 3.55%, a two-week low.