Treasuries Fall as Jobs Gains Raise Odds for Fed Rate Increase
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The Treasury market is signaling the latest jump in U.S. employment will leave the Federal Reserve little excuse not to raise interest rates this year.
Yields on two-year notes, most sensitive to changes in expectations for central-bank policy, climbed to the highest level this year after a government report showed the economy gained more jobs than forecast in February and the unemployment rate dropped to an almost seven-year low. Futures showed the odds of a rate increase in September climbed to 60 percent from 49 percent on Thursday.