Economics
U.S. 3-Year Note Yields Highest Since 2011 in Pre-Sale Trading
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Treasury three-year notes being sold by the U.S. today yielded the most in pre-auction trading since a May 2011 sale as an improving economy strengthened prospects for the Federal Reserve to raise interest rates next year.
The securities yielded 0.93 percent, compared with a 0.895 percent rate at the last auction of the maturity in April. The U.S. will sell $29 billion of the securities today, the smallest size since December 2008. Federal Reserve Chair Janet Yellen will testify to lawmakers tomorrow after last week cutting monthly bond purchases used to boost economic growth.