Treasuries Slide as Factory Gains Spur Fed Tapering Speculation
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Treasuries fell the most in almost two weeks as a gauge of U.S. manufacturing rose more than forecast in August, reinforcing bets the Federal Reserve will soon announce plans to reduce monetary stimulus.
Yields on benchmark 10-year notes climbed eight basis points, extending the biggest annual rout in U.S. government securities in almost four decades. Treasuries fell earlier as demand for refuge eased while the threat of an immediate U.S. military strike against Syria declined. The Labor Department will report on Sept. 6 U.S. payrolls added more jobs in August than in July, and Fed policy makers meet Sept. 17-18.