Treasuries Gain for First Time in Three Days Amid Refuge Demand

Treasuries rose for the first time in three days as investors seeking a refuge from turmoil in the Ukraine and slower economic growth in Europe ignored a report showing U.S. home purchases climbed the most in six months.

Yields on benchmark 10-year notes declined from almost a one-week high as violence marred preparations for Ukrainian elections on May 25. German business confidence fell more than forecast amid signs that expansion of the euro area’s largest economy will slow this quarter. Treasury yields were at almost the highest level relative to German bunds since 2007.