Treasuries headed for a fourth weekly decline, the longest losing streak in 19 months, before a government report economists said will show consumer spending gained last month.
Treasury 10-year notes headed for the longest streak of weekly losses in 19 months before a report economists said will show consumer spending gained last month, stoking speculation the central bank will slow asset purchases.
Citigroup Global Markets said Europe’s debt crisis will keep the Federal Reserve from raising interest rates this year, while National Australia Bank Ltd. cut its forecast for U.S. 10-year yields.
Treasuries snapped a gain from yesterday on speculation a U.S. employment report today will show the Federal Reserve doesn’t need to reduce borrowing costs.
"We, along with a number of others, think yields will be higher through 2015, and really the predominant driver of that is going to be that the Fed is going to lift rates."
- Peter Jolly on Dec 30, 2014