The 10-year Treasury note traded within the narrowest monthly range since April 2007 as unrest in Ukraine and debate about weather-affected economic data dissuaded investors from pushing yields higher.
Treasury 10-year note yields rose from the lowest level in more than a week as minutes of the Federal Reserve’s last meeting signaled little likelihood of a pause in the central bank’s reduction of bond purchases.
David Ader survived a heart attack in a jet over the Atlantic, missed a chance to work at the CIA thanks to his friend the international spy, changed jobs during the worst financial crisis in a lifetime and helped upstart CRT Capital Group LLC almost double revenue in two years.
Treasury 10-year note yields climbed the most in a year since 2009 as the U.S. economy improved enough for the Federal Reserve to reduce its bond purchases, leading investors to bet the stimulus will end this year.
The difference between Treasury five-year and 10-year notes yields widened to the most in more than two years as Federal Reserve Chairman-nominee Janet Yellen told Congress she will promote the Fed’s unprecedented stimulus program until economic growth is stronger.
Rates on Treasury bills tumbled and yields on longer-maturity U.S. debt rose on speculation lawmakers were working toward an agreement on a short-term increase in the nation’s debt limit to avoid a U.S. default.
China’s August sales of Treasuries may have been driven by the securities’ gains linked to U.S. economic weakness, European debt turmoil and speculation of more Federal Reserve bond buying, according to David Ader, at CRT Capital Group LLC.