Treasuries Climb as Portuguese Bond Fall Sparks European Concern
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Treasuries rose for a fourth day, sending yields on benchmark 10-year notes to a one-month low, as a renewal of financial stress in European financial markets sent investors to the safety of U.S. government securities.
U.S. debt gained as Portuguese bonds tumbled with investor concern deepening due to missed debt payments by a company linked to the Iberian nation’s second-largest bank. Greece raised 1.5 billion euros ($2.04 billion) in a debt sale that fell short of analyst estimates on size and yield. The U.S. is due to sell $13 billion of 30-year debt.