U.S. Yields at Almost 2-Month Lows as Fed May Add Bonds
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Treasuries 10-year note yields traded close to two-month lows as Federal Reserve policy makers said the central bank may need to increase bond purchases next year to boost the economic recovery.
The benchmark note rallied for the fifth straight day as President Barack Obama said the U.S. can’t afford to extend Bush tax cuts for the wealthy as lawmakers seek to address the budget deficit and avoid the so-called fiscal cliff. The difference between the yield on the two-year note and the 10-year security narrowed to almost the least in two months.