U.S. 10-Year Note at 10-Month High as Treasury Plans Sale
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Treasury 10-year note yields fell after reaching almost the highest level since April as the government announced plans to sell $72 billion of notes and bonds next week.
The Treasury called on Congress to pass a longer-term increase to the U.S. debt limit as it said the government will sell its first issue of floating-rate notes within the next year. The 10-year note yield straddled 2 percent for a sixth day. Federal Reserve bond purchases will reach $1.14 trillion before the current stimulus program expires in the first quarter of 2014, according to the median estimate of 44 economists in a Bloomberg survey.