(Bloomberg) -- Bond investors are coalescing around a segment of the Treasuries market that offers a measure of protection from this year’s brutal rout and also positions them for the recession that some still anticipate. BlackRock Inc. and Columbia Threadneedle Investments are among firms favoring notes due in roughly one to five years as Treasuries head for a record third straight annual decline, led by losses in longer maturities. Those tenors in particular have been buffeted by a resilient economy and the government’s swelling borrowing needs.