Treasuries Fall Before $32 Billion Three-Year Note Sale
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Treasuries declined, with 10-year yields at the highest level in three weeks, before U.S. sells $32 billion of three-year notes today, the first of three auctions this week for $72 billion.
Yields on 10-year notes rose the most in seven months after the Labor Department said May 3 that the U.S. added more jobs than forecast last month and the unemployment rate fell to a four-year low. The securities are at almost the least expensive in a month, according to the 10-year term premium. The U.S. is scheduled to sell $24 billion of 10-year debt tomorrow and $16 billion of 30-year bonds on May 9.