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Treasury Yields at Almost 2-Year Highs Amid Bets on Fed Tapering

Treasury 10-year notes fell, pushing yields toward the highest levels since 2011, after a comment by Federal Reserve Governor Jeremy Stein fueled speculation the central bank may start to reduce its bond buying in September.

Bonds extended a loss earlier as Richmond Fed Bank President Jeffrey Lacker said he’s against continuing bond purchases. Stein said policy makers should concentrate on the amount of economic progress made since the buying program began “in making a decision in, say, September.” Fed Chairman Ben S. Bernanke said June 19 bond purchases may be cut this year and ended in 2014 if growth is in line with central-bank estimates.