Treasuries Climb as U.S. Sells $24 Billion of Three-Year Debt
- Sale is first of three U.S. note and bond offerings this week
- Traders see 20% chance of Fed interest-rate increase by July
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Treasuries rose, following European government debt higher, even after the U.S. sold $24 billion of three-year notes at the highest yield since March.
Yields on benchmark U.S. 10-year notes fell as German 10-year yields dropped to a record low. The moves came a day after Fed Chair Janet Yellen emphasized plans to raise interest rates gradually in a speech and didn’t provide specific guidance on timing.