Treasuries Drop as Five-Year Sale Draws Lowest Demand Since June
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Treasuries tumbled, pushing benchmark 10-year note yields up the most in two weeks, after the $35 billion sale of five-year securities attracted the lowest demand since June.
U.S. debt due in more than a year was headed for the biggest monthly loss in the global government bond market as primary dealers ended up with their biggest share of an auction of the five-year maturity since July 2009. The two-year note yield increased to the highest level in six months.