Treasuries Fall as Fed Policy Makers ‘Comfortable’ With Tapering
This article is for subscribers only.
Treasuries dropped, pushing 30-year yields to a two-year high, after minutes of the Federal Reserve’s last meeting showed policy makers were “broadly comfortable” with a plan to curtail bond purchases.
Yields on benchmark 10-year notes approached the highest in two years as the minutes showed Fed officials supported Chairman Ben S. Bernanke’s plan to start reducing stimulus under quantitative easing later this year if the economy improves, with a few saying it might be needed soon. U.S.-registered bond funds lost $30.3 billion in August, a private report said.