Treasuries Pare Gains as Stocks Recover, Fed Ends Buying for Day
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Treasuries pared advances as stocks increased and the Federal Reserve concluded purchases of $14.6 billion in debt, the biggest amount in a single day under the second round of quantitative easing.
Government bonds strengthened earlier as the central bank bought debt maturing from 2018 to 2020 and from 2014 to 2016. The 10-year note yield touched a seven-month high last week on speculation the U.S. extension of tax cuts will spur economic growth and widen the budget deficit.