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Treasuries Drop Fastest Since 2010 as Economy Blocks Fed

Treasuries posted their biggest four-week decline since December 2010 as signs economic growth is accelerating dimmed the likelihood the Federal Reserve will initiate another round of asset purchases.

Economic data on the job market, the housing industry and consumer purchasing and sentiment showed signs of faster growth, helping reduce haven demand to push benchmark 10-year Treasury yields to the highest level since May 11. The central bank will release minutes from its Aug. 1 meeting where it declined to initiate a third round of monetary stimulus, a policy known as quantitative easing, or QE. Fed Chairman Ben S. Bernanke will address the Kansas City Fed’s annual conference on monetary policy at Jackson Hole, Wyoming, on Aug. 31.