Treasuries Fall Before 10-Year Note Sale as Safety Demand Wanes
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Treasuries declined before a U.S. government sale of $21 billion in 10-year notes amid speculation European officials are stepping up efforts to solve the region’s debt crisis, damping demand for the safety of U.S. debt.
Treasury 10-year note yields rose in the first two-day increase in almost three weeks amid reports that European governments are considering aid for Portugal as it faces sovereign debt challenges. Portugal’s borrowing costs fell and demand rose at a sale of 10-year bonds. The U.S. will sell $13 billion of 30-year bonds tomorrow, the last of three auctions this week totaling $66 billion.