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Treasuries Drop a Second Quarter on Signs U.S. Economy Improving

Treasury 10-year notes fell for a second quarter, the first back-to-back drop in two years, as investors sought higher-yielding assets amid improved economic data and a Federal Reserve pledge to maintain monetary stimulus.

Yields on the benchmark securities reached 11-month highs as the U.S. unemployment rate unexpectedly fell in February and employers added more jobs than forecast. Payrolls also swelled in March, a report in the coming week may show. The rise in yields was tempered as the bailout of Cyprus and Italian political turmoil renewed the haven appeal of U.S. government debt.