Treasury 10-Year Yield Rises to Six-Month High on Economic View
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Treasuries dropped, pushing yields of benchmark 10-year notes to the highest level in six months, as optimism the global economic recovery is gathering pace sapped demand for safety.
Yields on German bunds rose above 3 percent for the first time since May, and Japanese five-year yields gained the most in more than two years. U.S. debt remained lower as the government sold $21 billion of 10-year notes two days after President Barack Obama agreed to extend his predecessor’s tax cuts. Yields on corporate and municipal debt surged.