From Susanne Walker and Lucy Meakin, Bloomberg:
Treasuries dropped, with 10-year note yields reaching the highest level in three weeks, as monthly jobless claims at the lowest level in eight years added to evidence the employment market is strengthening.
U.S. government debt was poised for the biggest monthly drop since March on bets the Federal Reserve will raise interest rates after second quarter economic growth surged past analysts’ forecasts.
The stock market frets that interest rates may rise ….because the economy is recovering and unemployment is falling. And this is bad news?
Read more at Treasury market volatility climbs.