Upbeat economic news is pushing 10-year Treasury yields to nearly 2.9% amid expectations the Fed will dial back quantitative easing.
The yield on the 10-year Treasury note jumped to 2.888% on Thursday and is on track for its highest settle in three months.
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Investors are selling bonds after stronger-than-expected November retail sales raised expectations that the Federal Reserve will announce plans to begin withdrawing its bond-buying stimulus perhaps as soon as next week’s policy meeting.
If the 10-year yield settles above last Friday’s close of 2.881%, it will be the highest since September 13.