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Treasuries Fall After Obama Says to Extend Tax Cuts for 2 Years

Dec. 7 (Bloomberg) -- Treasuries fell, following the biggest gain in almost three weeks, after President Barack Obama said he will agree to a two-year extension for tax cuts.

The yield on the benchmark 10-year note climbed two basis points to 2.94 percent as of 8:44 a.m. in Tokyo, according to data compiled by Bloomberg. The price of the 2.625 percent security due November 2020 dropped 5/32, or $1.56 per $1,000 face amount, to 97 9/32.

To contact the editor responsible for this story: Nicholas Reynolds at nreynolds2@bloomberg.net

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