Treasuries Fall as Asian Stocks Rally, Extending U.S. Advance
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Treasuries fell, snapping a three-day advance, as Asian stocks extended gains in U.S. shares and a gauge of trader inflation expectations approached the highest level since 2008.
Benchmark 10-year yields have climbed almost a quarter percentage point from last month’s low on speculation the economy is strong enough for the Federal Reserve to end its $600 billion bond-purchase program as scheduled in June. The difference between yields on 10-year notes and Treasury Inflation Protected Securities, a gauge of trader expectations for consumer prices over the life of the debt, widened to 2.65 percentage points. It was 2.67 percentage points on April 11, the most in three years.