The U.S. sale of $21 billion in 10- year notes drew the highest yield at an auction of the security in two-and-a-half years as investors bet improving economic data may accelerate the Federal Reserve’s pace of stimulus cuts.
The yield difference between Treasury five- and 30-year securities narrowed this week by the most in 19 months as traders unwound bets the Federal Reserve would wait until 2014 to announce cuts to its bond buying.
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.
MF Global Holdings Ltd. took the cult of the Wall Street chief executive officer to a new level with its sale of bonds that pay a higher rate if Chairman and CEO Jon Corzine quits to take a job from the U.S. president.
MF Global Holdings Ltd. took the cult of the Wall Street chief executive officer to a new level with a plan to sell bonds that pay a higher rate if Chairman and CEO Jon Corzine quits to accept a job from the U.S. president.
Bond buyers are demanding the most in at least a decade to own long-dated bonds relative to debt with short maturities as they seek to protect themselves from losses when the Federal Reserve starts scaling back stimulus.