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.
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.
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.
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.
Treasury 10-year yields are poised to extend gains after climbing past their 30-day moving average this month, according to National Australia Bank Ltd., citing trading patterns.
"There's a bunch of supportive factors right now."
- Peter Jolly on Aug 19, 2014