Treasuries Little Changed Before Debt Sale, Fed Meeting
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Treasuries were little changed following three days of losses before the U.S. sells $35 billion of five-year notes, the second of three auctions of coupon-bearing debt this week totaling $99 billion.
U.S. 10-year yields were at almost the highest level since April as Federal Reserve Chairman Ben S. Bernanke and policy makers start a two-day meeting after minutes of the December gathering indicated officials began debating an end to bond buying, known as quantitative easing, as early as this year. Investors increased bets to the highest level since 2011 that the price of Treasuries will drop, a survey by JPMorgan Chase & Co. showed.