U.S. Yields Climb to 22-Month High as Global Bonds Slide on Fed

Treasury 10-year note yields climbed to a 22-month high as government bonds tumbled from Germany to New Zealand after Federal Reserve Chairman Ben S. Bernanke said policy makers may end bond purchases in mid-2014.

The U.S. yields pared the advance as riskier assets slid and the high rate levels drew investors. Yields surged the most since 2011 yesterday, when Bernanke said the Fed may slow its $85 billion in monthly buying under quantitative easing later this year if growth is in line with its forecasts. A Bloomberg survey said it will cut purchases by $20 billion in September. A sale of U.S. inflation-linked debt drew below-average demand.