Treasuries fluctuated as investors weighed prospects for the Federal Reserve’s bond purchases after a report showed the economy added more jobs than forecast last month and the unemployment rate dropped.
Treasury 10-year yields rose to the highest level in two months as Federal Reserve officials said they might reduce $85 billion in monthly bond purchases “in coming months” as the economy improves, minutes of their last meeting show.
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.
Treasuries rose, pushing 10-year yields down for the first week since October, as Federal Reserve Chairman-nominee Janet Yellen underscored her commitment to strengthening the economy before cutting monetary stimulus.
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.
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.
Treasuries dropped for a second day as a report showed the economy expanded last quarter faster than previously forecast, boosting speculation the Federal Reserve will reduce the pace of bond purchases as soon as next month.