A breakup of Time Warner Cable Inc., which Comcast Corp. and Charter Communications Inc. are said to be considering as part of a joint bid, would let the industry consolidate while potentially sidestepping regulatory hurdles.
Treasuries declined a second day as the U.S. sale of $35 billion in five-year notes was met with weaker-than-average demand amid speculation the Federal Reserve will reduce its bond purchases this year.
Treasury 10-year notes snapped three days of gains before a report tomorrow that forecasters said will show U.S. retail sales increased for a fourth month in July, adding to signs the economy is improving.
The extra yield Treasury investors require to own 10-year notes compared with two-year securities may extend its decreases amid turmoil in Europe and slower growth in China, according to Royal Bank of Scotland Group Plc, citing technical analysis.
Treasuries rose, recovering from the biggest two-day decline in almost two years, as two Federal Reserve regional bank presidents defended the central bank’s $600 billion asset purchase program after criticism from economists and politicians saying the program is inflationary.