Treasuries Fall Most Since Start of Year as Refuge Demand Eases
This article is for subscribers only.
Treasury 10-year note yields rose the most since the first week of the year as the European Central Bank said banks will repay more of its loans than forecast and a strengthening housing market reduced the haven appeal of U.S. government debt.
The benchmark security fell the most since Oct. 17 yesterday after the ECB data spurred optimism the worst of the European debt crisis may be over, capping the biggest weekly decline since the five days ended Jan. 4. The slide in prices came before the first Federal Reserve policy meeting of the year beginning Jan. 29 and the release of the January employment report on Feb. 1. The U.S. will also auction $99 billion in two- , five- and seven-year notes next week.