Treasuries Decline After Release of Federal Reserve Minutes
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Treasuries fell, pushing yields up, after the Federal Reserve released minutes of its March 15 meeting, where policy makers said the recovery is gaining strength while reaffirming plans to buy $600 billion of Treasuries through June.
Two-year yields earlier touched a one-week low. Fed Chairman Ben S. Bernanke said yesterday the economic recovery is not yet solid and an increase in inflation may be transitory. The central bank authorized its debt-purchase program, the second round of a strategy called quantitative easing, in November to spur economic recovery.