Treasuries Gain Most Three Months as Tapering Talk Seen Overdone
This article is for subscribers only.
Treasuries gained the most in more than three months as traders said speculation that the Federal Reserve could disclose plans to slow its bond-buying program as soon as at next week’s policy meeting was overblown.
Yields on benchmark 10-year notes fell for the first time in three days. Fed Chairman Ben S. Bernanke has repeatedly said a reduction in the central bank’s $85 billion in monthly bond purchases wouldn’t mean an end to record easing. Ten-year notes have dropped the past six weeks, the longest losing stretch since 2009.