Filed Under:Life Insurance, Life Planning Strategies

Treasuries fall first time in 5 days before sale

(Bloomberg) -- Treasuries fell for the first time in five days as the U.S. prepared to sell $21 billion of 10-year notes an hour before the minutes of the Federal Reserve’s last policy meeting are released.

The securities yielded 2.71 percent in trading before the 1 p.m. auction, compared with the 2.73 percent high yield at the last government sale on March 12. Treasuries have rallied since the March employment report released April 4 showed the U.S. added fewer jobs than forecast, easing concern the Fed would accelerate its winding down of monetary stimulus.

The auctions will benefit from money managers reinvesting funds paid out to them from maturing securities, said John Gorman, head of dollar-denominated interest-rate products for Asia at Nomura Holdings Inc. in Singapore. The company is one of the 22 primary dealers that underwrite the U.S. debt.

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Nichole Morford

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