Treasuries Fall for Third Day as Housing Starts Surge
This article is for subscribers only.
Treasuries fell for a third day, the longest losing streak in almost six weeks, as a surge in new-home construction to the highest level in four years reduced demand for the safety of U.S. government debt.
Benchmark 10-year yields climbed to the highest in almost a month after Spain kept its investment-grade debt rating from Moody’s Investors Service. Yields on 10- and 30-year debt rose above their 200-day moving averages before European leaders gather tomorrow in Brussels. U.S. government debt has handed investors a 0.4 percent loss this month, according to Bank of America Merrill Lynch indexes.