Treasuries fluctuated before the government sells $32 billion of two-year notes as part of $96 billion of coupon-bearing securities auctions this week.
Treasury 10-year notes are headed for their worst month since June, according to Bank of America Merrill Lynch Indexes. Janet Yellen, who is poised to succeed Ben S. Bernanke as Fed chairman, said Nov. 14 she wont remove stimulus too soon, even as the central banks bond buying comes to a close. The Fed will acquire $2.75 to $3.5 billion of Treasuries maturing from February 2021 to November 2023 today. The U.S. will sell $35 billion of five-year debt tomorrow and $29 billion of seven-year securities Nov. 27.
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