Treasuries Fall Before $32 Billion 3-Year Sale Amid Fed Bets
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Treasuries declined before the government sells $32 billion of three-year notes amid speculation the Federal Reserve may reduce its bond-purchase program by year-end.
The difference between yields on five-year securities and 10-year notes widened to the most in almost two years as a report showed the U.S. trade deficit narrowed in June to the lowest level since October 2009. The U.S. is scheduled to sell $24 billion of 10-year notes tomorrow and $16 billion of 30-year bonds the following day.