Treasury Yields in Tightest Range in 2 Weeks as Deadline Looms
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Treasury 10-year note yields traded in the narrowest range in two weeks as the year-end deadline approached in a budget-deficit showdown that may push the world’s biggest economy into recession.
Bonds slipped for the first time in four days amid speculation President Barack Obama and Republicans may reach an agreement to avert more than $600 billion in automatic tax boosts and spending cuts set to begin in January. Treasuries fell for three straight weeks this month as lawmakers worked to end the stalemate. House Speaker John Boehner scrapped a plan last week to allow higher tax rates on income above $1 million, and lawmakers left Washington for the Christmas holiday.