Treasuries Slide as U.S. Jobs Data Sustain Wagers Fed May Taper

Treasuries fell for a sixth consecutive week as higher-than-forecast employment growth supported speculation the Federal Reserve will taper its bond-buying program with economic growth exhibiting momentum.

Yields on benchmark 10-year notes sustained their longest streak of weekly increases in four years even with the Labor Department’s report showing the unemployment rate rose to 7.6 percent in May. The Fed will trim its monthly purchases of Treasuries and mortgages to $65 billion in October, a smaller cut than previously forecast, from the current $85 billion, economists in a Bloomberg survey projected before the report.