Treasuries Pare Losses Before Note Auction, Fed’s Beige Book
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Treasuries pared losses before the U.S. sells $21 billion of the 10-yeare notes, the second of three auctions of coupon-bearing securities this week totaling $66 billion.
Yields on the benchmark securities had reached the highest in more than two weeks before the Federal Reserve releases its Beige Book business survey. Fed Vice Chairman Janet Yellen said asset purchases by the central bank that boost U.S. economic growth will benefit the world. U.S. yields rose amid a meeting between Spanish Prime Minister Mariano Rajoy and French President Francois Hollande in Paris as investors wait to hear if Spain will request a sovereign bailout.