Yields Rise To 3-Month High As Investors Embrace Risk
U.S. benchmark 10-year Treasury yields hit a more than three-month high Wednesday after lawmakers approved a deal that prevented a round of automatic budget cuts and tax hikes that could have tipped the world's largest economy into recession. The Republican-controlled House of Representatives approved a bill late on Tuesday that will raise taxes on top earners, avoiding a "fiscal cliff" of $600 billion in higher taxes and decreased spending.
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