Treasury Two-Year Notes Fall as Inflation Rises Most Since 2011

  • Core consumer prices advance more than forecast in January
  • Traders boost wagers that the Fed will raise rates this year

Short-dated Treasuries fell after a report showed the cost of living in the U.S. excluding food and fuel increased in January by the most in more than four years, reinforcing the Federal Reserve’s message that inflation will rise toward its 2 percent target.

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