Treasuries Fall for Third Day on Greek Debt Agreement
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Treasuries dropped for a third day after European finance ministers agreed on a second bailout package for Greece aimed at staving off default and keeping the 17-nation euro area intact.
Two-year yields traded at almost the highest level since October as the Treasury prepared to sell $35 billion of the securities today in the first of three note auctions this week. Yields on 10-year debt still remain more than a percentage point below their five-year average on speculation the Federal Reserve will maintain efforts to stimulate the economy.