Treasuries Fall for Third Day Before 10-Year Auction
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Treasuries fell for a third day, with yields on benchmark 10-year notes rising above 2 percent for the first time in a week, before the U.S. sells $24 billion of the securities in the second of three auctions this week.
Pre-auction trading of 10-year notes suggests the debt would be sold at the highest yield since April 2012. Treasuries extended losses after a report showed retail sales in the U.S. rose in January for a third consecutive month. Treasury, which sold $32 billion of three-year notes yesterday, will auction $16 billion of 30-year bonds tomorrow.