Treasuries gained for the first time in three days as risk appetite ebbed before the Federal Reserve releases minutes tomorrow of its April policy meeting.
U.S. 10-year notes erased earlier losses, pushing yields toward a six-month low. Stocks fell this morning.
“The equity market is down, which is giving support to Treasuries amid light trading and no economic data to trade off,” said Larry Milstein, managing director in New York of government-debt trading at R.W. Pressprich & Co.
Ten-year yields fell one basis point, or 0.01 percentage point, to 2.53 percent at 10:16 a.m. New York time, according to Bloomberg Bond Trader prices. They touched 2.47 percent on May 15, the lowest since Oct. 30.