Treasury 10-Year Yield Rises to Almost 3% on Bets Fed to Taper
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Treasury 10-year note yields rose to almost to 3 percent for the first time in two years as fewer Americans than forecast filed for jobless benefits, boosting bets the Federal Reserve will cut bond purchases this month.
The 10-year term premium signaled the securities were the cheapest since 2011 before a release tomorrow forecast to show employers increased the pace of hiring in August, according to a Bloomberg survey of economists. An ADP Research Institute report today showed companies added jobs at a pace in line with the average over the past two years. The next Fed policy meeting is Sept. 17-18.