Treasuries Snap Gain as Greek Deal Cuts Demand for Safety
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Treasury 10-year yields approached the highest level in almost three weeks after euro-area finance ministers agreed on an aid plan for Greece, damping demand for the relative safety of U.S. debt.
Benchmark notes snapped a gain from yesterday amid signs the U.S. Congress will reach a budget deal that averts the so-called fiscal cliff of spending cuts and tax increases. The Treasury is scheduled to sell $35 billion of two-year securities today, the first of three auctions this week for $99 billion. Orders for durable goods declined in October, economists forecast before a report today.