Treasury 10-Year Yields Climb as Investors Bet Fed Set to Taper

Treasuries dropped, pushing 10-year note yields up for the third week this month, on speculation minutes of the Federal Reserve’s policy meeting indicated the bank may trim debt purchases by the end of the year.

The yield difference between five- and 10-year notes, known as the yield curve, widened to the most in two years Nov. 21 after a Labor Department report showed jobless claims fell more than forecast last week. Fed Bank of St. Louis President James Bullard said Nov. 20 a cutback in the bond-purchase program is “on the table” for policy makers’ December meeting. Treasury will sell $96 billion in notes next week.