Oct. 28 (Bloomberg) -- Treasury 10-year yields reached the highest in more than 11 weeks, amid optimism over the global economic outlook after European leaders yesterday agreed on a plan to stem the region’s debt crisis.
Benchmark yields headed for the biggest monthly increase this year before figures today that will show gains in income, spending and inflation as well as an upward revision to consumer confidence, Bloomberg surveys of economists indicate. The Federal Reserve is scheduled to sell $8 billion to $9 billion of Treasuries due from October 2013 to February 2014 from its holdings today, according to its website.
Ten-year yields rose as high as 2.42 percent, the most since Aug. 9. They were little changed at 2.40 percent as of 9:38 a.m. in London, according to Bloomberg Bond Trader prices. The 2.125 percent note maturing in August 2021 traded at 97 19/32. The rate climbed 49 basis points this month.
--With assistance from Wes Goodman in Singapore. Editors: Matthew Brown, Nicholas Reynolds
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