Treasuries Tumble as U.S. Prepares to Sell More Debt Next Week

From Bloomberg.com

Treasuries fell as the U.S. prepared to sell an estimated $59 billion in notes and inflation-indexed securities next week, part of a record amount of debt the government is likely to issue this year.

Ten-year notes posted their second weekly decline, contributing to a 1.7 percent loss by U.S. securities this year, according to Merrill Lynch & Co.’s U.S. Treasury Master index. A government report on payrolls was in line with the forecast of economists. The U.S. will need to borrow $3.25 trillion for the fiscal year ending Sept. 30, including sales to replace maturing securities, according to a Goldman Sachs Group Inc. estimate.