Treasury 10-Year Yields Rise to Week High as Chicago Index Jumps
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Treasury 10-year note yields touched the highest level in more than a week after business activity expanded at the fastest pace in more than two years, adding to speculation the Federal Reserve’s stimulus is working.
The benchmark securities trimmed their first back-to-back monthly advance since April. Yields rose yesterday as Fed policy makers said the economy showed signs of “underlying strength” even as they continue the $85 billion in monthly bond purchases, known as quantitative easing. They next meet Dec. 17-18. The MNI Chicago Report business barometer jumped a day before the Institute for Supply Management releases its factory gauge, which rose to a two-year high last month.