Treasury 10-Year Yields Reach Two-Month High on Fed Speculation
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Treasury 10-year note yields reached two-month highs as speculation the Federal Reserve may consider tapering its record bond-purchase program crimped demand for the securities as equities indexes traded at record levels.
U.S. debt erased earlier gains as Fed Bank of Philadelphia President Charles Plosser reiterated his view that the central bank should begin to curtail bond purchases in its quantitative easing program as early as its next meeting. Treasuries had rallied earlier today as yield levels attracted buyers betting subdued inflation will bolster the value of the debt’s fixed payments. Fed policy makers meet on June 18-19.