Treasuries Fall as Fed Rate Speculation Halts Oil-Fueled Gains
- Futures show 76% probability of rate increase this week
- U.S. two-year note yield rises by the most since October
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Treasuries tumbled, pushing 10-year yields up from near the lowest level in six weeks, amid speculation the Federal Reserve remains on course to raise interest rates this week even in the face of a rout in speculative-grade credit.
The move marked a turnaround after last week’s selloff in oil, stocks and high-yield bonds led investors to seek the safety of U.S. debt and pushed benchmark 10-year note yields to the lowest since October.