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U.S. 10-Year Yields Jump to Highest in Three Months on Fed Taper

Treasury notes slid for a second day, pushing 10-year yields to a three-month high, on bets the Fed will conclude its bond-buying program by the end of next year as it steadily reduces purchases amid economic improvement.

A government auction of $29 billion in seven-year notes drew the highest yield in more than two years as demand sank below average. Treasuries fell even after initial jobless-benefit claims unexpectedly rose last week. The Fed said yesterday it will cut monthly asset buying in its quantitative-easing program to $75 billion in January, from $85 billion.