Treasuries erased an advance, leaving the yield on the 10-year securities little changed at 1.67 percent as of 7:34 a.m. London time. The rate earlier dropped as much as two basis points to 1.64 percent.

The yield on the two-year note was also little changed at 0.29 percent.

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To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net