Bonds Fall As They Absorb New Issuance; Inflation-Protected Auction Goes Smoothly
Treasuries fell sharply Monday as investors gasped at another record round of new debt and fretted over the possible timing of a Federal Reserve policy reversal. Solid results for a sale of $7 billion in five-year inflation-protected notes did not assuage those concerns, while fears of a more vocal exit strategy from the Federal Reserve added to the selling pressure. In afternoon trade, the benchmark 10-year note's yield was 3.54%, up 4 basis
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