Treasuries Fall First Time in Four Days as Rally Seen Overdone
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Treasury bonds fell for the first time in four days as traders speculate that the rally that pushed 30-year bonds to the best start of a year in almost two decades went too far too fast with the economy strengthening.
Yields on benchmark 10-year notes rose from the lowest level since October as a report showed the pace of housing starts accelerated more than forecast last month. The long bond has returned 13 percent this year through yesterday, the biggest return for that period since 1995. Bonds have rallied in the U.S. and Europe on speculation central bankers will maintain or add to the current pace of monetary stimulus.