Treasury Yields Rise to 2-Year High Before Fed Minutes Release
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Treasuries fell, with yields on 10-year notes reaching two-year highs for a third consecutive day, as investors look to the minutes of the Federal Reserve’s last meeting for clues on the eventual slowing of bond purchases.
Yields on the benchmark security rose to the highest since July 2011 as central bankers and policy makers also gather this week in Jackson Hole, Wyoming, to discuss the global economy and monetary policy. The Fed’s first step may be tapering monthly debt purchases in September by $10 billion to a $75 billion pace, according to the median estimate of analysts in a Bloomberg survey concluded last week. The U.S. central bank publishes the minutes of its July 30-31 meeting Aug. 21.