Vanguard Favors Treasuries as 10-Year Yields Near Range Top

Vanguard Group Inc., one of the world’s largest money managers, is sticking with its bet on US Treasuries, saying yields in the $31 trillion market are near the top of its expected range for 10-year notes.

“In US rates, we maintain a long duration bias with yields near the top of our expected range for the 10-year Treasury,” Sara Devereux, Vanguard’s global head of fixed income, said ahead of the firm’s latest outlook, set to be published later this week.