Treasury Notes Decline as Demand Wanes Amid Gains in Oil, Stocks
- Yields on two-year securities climb to highest since Feb. 1
- Traders rebuild wagers that the Fed will raise rates this year
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Treasury notes fell, pushing two-year yields to the highest in three weeks, as a rally in oil and global equities reduced demand for haven assets.
The two-year yield, the maturity most sensitive to Federal Reserve monetary policy, climbed as investors rebuilt wagers that officials will raise interest rates this year. Crude prices advanced for the third time in four days after falling to a 12-year low this month. The U.S. will sell $26 billion of two-year securities Tuesday in the first of three note auctions this week.