U.S. Treasuries Rise on Greece

Treasuries rose for the first time in six days, Japan’s yen climbed from a five-week low and U.S. equity-index futures dropped after talks failed to produce an agreement to keep bailout funds flowing to Greece. Australia’s dollar sank on jobs data.

The yen was at least 0.3 percent stronger against all 16 major peers by 11:04 a.m. in Tokyo. Futures on the Standard & Poor’s 500 Index dropped 0.3 percent and the yield on 10-year U.S. notes fell three basis points. Gold rose 0.3 percent and a gauge of emerging-market stocks retreated a fifth day. The Aussie slid 0.8 percent. U.S. oil held below $50 a barrel. Japan’s Topix index jumped 1.5 percent, led by exporters, after a holiday.

“It’s a flight to quality,” said Wontark Doh, the head of overseas fixed-income investment at Samsung Asset Management in Seoul . “The Greek problem is preventing U.S. yields from rising.”

Bloomberg

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