Treasury Futures Fall as Yellen Sees Rate Increase This Year

Treasury futures contracts fell after Federal Reserve Chair Janet Yellen said the U.S. central bank is on track to raise interest rates this year.

Futures for December delivery dropped 7/32, or $2.19 per $1,000 face amount, to 127 28/32 in electronic trading.

Yellen is trying to prepare market participants for the rate increase, said Kazuaki Oh’e, a debt salesman at CIBC World Markets Japan Inc. in Tokyo.

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