Treasury 10-Year Yield Advances to 3% for First Time Since 2011

Treasury 10-year note yields rose to 3 percent for the first time in two years as a strengthening U.S. employment market increases speculation the Federal Reserve will announce plans to slow its bond-buying program this month.

The yield on the benchmark security for everything from corporate to mortgage loans last breached that level on July 27, 2011, when lawmakers debated raising the nation’s debt limit. Fed officials are monitoring progress in the labor market as they consider dialing back their $85-billion-a-month program designed to fuel the expansion. A Labor Department report today may show companies added 180,000 workers last month and the unemployment rate held at the lowest level since 2008. The Fed’s next policy meeting is Sept. 17-18.