Treasury Yields Climb to Eight-Week High Amid Fed Tapering Bets

Treasury 10-year yields reached the highest level in eight weeks, as signs America’s economy is gathering momentum underpinned the case for the Federal Reserve to reduce asset purchases.

The benchmark notes fell before the U.S. auctions $30 billion in three-year notes today. Treasuries maturing in longer than 10 years slid 11 percent this year, the worst performers among 144 sovereign indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies. Fed Bank of Atlanta President Dennis Lockhart said a move by the central bank to trim its $85 billion of monthly bond buying “could very well take place” next month.