Treasuries gain as Treasury Secretary asks for higher debt ceiling

U.S. Treasuries increased on Monday reducing the last week's drop after Jacob J. Lewis, the Treasury Secretary, said that the U.S. Congress may need to raise the debt ceiling by October 17 or the country risks failing on its payments. The benchmark 10-year government securities declined 3 basis points to 2.62% as of 9:46 a.m. in London.