U.S. 10-Year Yields Close to 7-Week High Amid Fiscal-Cliff Talks
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Treasury 10-year yields traded at almost the highest level in seven weeks amid bets talks will resolve a budget showdown and as the U.S. prepared to sell $35 billion of five-year debt in the second of four note auctions this week.
U.S. government bonds remained lower for a second day after President Barack Obama rejected an alternative budget plan proposed by House Speaker John Boehner in talks to resolve a fiscal showdown. The Treasury is auctioning $113 billion in four sales that end Dec. 20.