Treasuries rose, snapping a two-day decline, before an industry report that may show
sales of previously owned U.S. homes approached a record low. Treasuries gained
along with European bonds after reports showed business confidence fell in Germany.
Ten-year notes climbed as oil fell for a third day, easing concern that inflation will
accelerate. Five-year notes advanced before a government sale of $21 billion of the
securities today. The yield on the benchmark 10-year security fell 2 basis points to
4.10 percent at 8:10 a.m. in New York, according to BGCantor Market Data. It touched
4.17 percent yesterday, the highest since June 25. The 3.875 percent note due in May
2018 climbed 1/8 to 98 6/32. Five-year yields dropped 2 basis points to 3.48 percent
before the government sale of the securities later today. Reports showed business
confidence fell in Germany, the biggest economy in the euro region, by the most since
2001. Market is relatively unchanged to .125 better in discount this morning.
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