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Treasury 10-Year Notes Off to Worst Annual Start in Two Years

Treasuries fell, extending the worst start of a year for benchmark 10-year notes since 2011, as reports suggested the U.S. economic recovery is gaining momentum and the government sold $72 billion in coupon-bearing debt.

Yields on 10-year notes have climbed 24 basis points, or 0.24 percentage point, since December. The yield reached a high for the week of 2.06 percent Feb. 14, a day after the U.S. sold $24 billion of 10-year notes at higher-than-forecast yields. The yield dropped to as low as 1.94 percent on Feb. 11. Treasury will sell $9 billion of 30-year inflation-index debt on Feb. 21.