Treasuries fall after meaning of 'pause' downplayed

Treasury yields rose led by the five-year after New York Federal Reserve President William Dudley downplayed the length of any pause in short-term rate normalization by the central bank when it starts to shrink its balance sheet. Yields were higher by two to seven basis points at 4 p.m. in New York, with the 10-year higher by 4 basis points at 2.38 percent. Dudley said his March 31 comments that caused bonds to rally and steepened the curve were “misconstrued” by some. Earlier in the session, yi...

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