August 7, 2019 / 3:36 PM / 4 months ago

U.S. long-dated bonds book biggest five-day gain since 2011

NEW YORK (Reuters) - U.S. long-dated Treasury prices rallied further on Wednesday with 30-year bond yields approaching all-time lows as they are on track to extend a winning streak where they produced their biggest five-day gain since October 2011.

Investors have been scooping up U.S. government debt since last week on bets the Federal Reserve would need to cut interest rates more than it has signaled so far, in a bid to combat risks from the escalating trade war between China and the United States.

Treasuries that mature in 20 years or longer earned a total return of 6.02% from last Wednesday to Tuesday, which was their heftiest five-day gain since a 6.51% increase in October 2011, according to an index compiled by Bloomberg and Barclays.

Reporting by Richard Leong; Editing by Bernadette Baum

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