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High Yield for Two-Year Treasuries

Pre-auction trading indicates today's sale will result in highest yield since 2011.

By Candice Zachariahs and Mariko Ishikawa, Bloomberg | Updated on June 24, 2014

A $30 billion sale of two-year Treasuries today will result in the highest yield in three years, according to pre-auction trading, amid speculation the Federal Reserve is moving closer to raising interest rates.

A gauge of expectations for consumer prices during the next 10 years was near the most in five months before Fed officials speak this week, with markets indicating a 59 percent chance they will boost interest rates by July of next year. Economists say a report on Thursday will show the central bank’s preferred measure of inflation—the personal consumption expenditures (PCE) price index—rose to the highest since October 2012. The U.S. is selling $107 billion of coupon-bearing debt this week.

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