Treasuries Fall, Dollar Gains as Fed Boosts Rate Estimate
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Treasuries fell while the dollar gained as the Federal Reserve raised estimates for interest rates at the end of next year even as it pledged to keep rates low for a “considerable time.” U.S. stocks pared earlier gains.
The rate on 10-year Treasury notes rose three basis points to 2.62 percent, a two-month high. Five-year yields rose to a one-year high. The Bloomberg Dollar Spot Index climbed 0.7 percent to the highest in 14 months. Oil declined with gold. The Standard & Poor’s 500 Index added 0.1 percent 4 p.m. in New York, trimming an advance of as much as 0.6 percent that pushed the gauge to an all-time high on a closing basis