U.S. 10-Year Yield Climbs to Two-Year High Amid Stimulus Concern
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Treasury 10-year note yields rose past 2.5 percent for the first time in 22 months as investors fled U.S. debt with the Federal Reserve forecasting growth strong enough to allow policy makers to stop buying bonds.
Yields on the benchmark security for everything from mortgages to corporate loans surged this week by the most since the Iraqi war after Fed Chairman Ben S. Bernanke said June 19 the central bank may begin dialing down quantitative easing this year and end it in mid-2014. Yields on German bunds touched a 14-month high, while the dollar rallied.