Treasuries Winning Streak Longest Since 2012 Amid Oil Collapse

Treasuries rallied, with benchmark 10-year yields dropping below 2 percent for the first time since October, as tumbling oil prices damped the global outlook for inflation.

U.S. 30-year bonds gained for an eighth day, sending the yield to the lowest level since July 2012, as a report showed service industries growth moderated as 2014 ended. Global sovereign bonds advanced, pushing yields to a record low, on speculation the European Central Bank may extend stimulus to boost regional economies. U.S. debt rallied even as the Federal Reserve plans to raise interest rates later this year.