Treasuries Trade in Tightest Range Since July on Fed Speculation
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Treasury 10-year note yields traded within a quarter-percentage point of a record low as stronger-than-forecast job growth failed to blunt speculation the Federal Reserve will announce another round of bond purchases.
Yields on benchmark 10-year notes rose from the least in more than two weeks yesterday after Labor Department figures showed the U.S. added 146,000 jobs in November and the unemployment rate fell to 7.7 percent. Fed officials, who said after September’s policy meeting that they will buy bonds until the job market improves substantially, gather for the final time this year Dec. 11-12.