Treasuries Head for Weekly Loss as Fed May Scale Back
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Treasuries headed for the first weekly loss in five as Philadelphia Federal Reserve President Charles Plosser said the central bank should begin scaling back its bond purchases in the next few months.
U.S. government securities dropped 0.5 percent this week through yesterday, leaving them little changed for the year, Bank of America Merrill Lynch data show. Stocks have surged in 2013, sending the Dow Jones Industrial Average up 13 percent, including dividends, to a record. Several Fed officials favored cutting bond purchases this year and halting the record stimulus by year-end, according to minutes of the March 19-20 meeting of the Federal Open Market Committee released this week.