Benchmark 10-year notes dropped for a third day amid speculation some investors will sell Treasuries to offset losses on mortgage-backed securities, a practice known as convexity hedging. U.S. policy makers are divided over whether to slow the pace of its bond-buying program. San Francisco Fed President John Williams said last week a “modest adjustment downward” in the buying is possible as “early as this summer.” The U.S. plans to sell $66 billion of notes and bonds this week.
Posted on: Tue, 11 Jun 2013 11:55:25 +0000
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