Treasuries Fall Before Fed Meeting, $111 Billion Debt Auctions
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Treasuries fell, pushing the 10-year yield up from almost a two-month low, before the Federal Reserve begins a two-day meeting tomorrow and the U.S. sells $111 billion of notes and floating-rate debt this week.
The benchmark yield increased for the first time in three days after dropping last week amid demand from investors fleeing emerging-market losses. The Treasury will sell $15 billion of floating-rate two-year notes in an inaugural sale on Jan. 29 offering its first added security in 17 years. At its meeting this week, the Fed may add cuts to its monthly $75 billion bond-buying program, according to a Bloomberg News survey.