Treasury 10-year yields approached a 14-month high before data this week forecast to show employers stepped up hiring, adding to signs of economic recovery and boosting speculation the Federal Reserve will reduce stimulus.
U.S. companies added more workers last month, ADP Research Institute will say tomorrow, according to a Bloomberg survey of economists. The Labor Department will report on June 7 that nonfarm payrolls rose by 167,000 positions and the jobless rate held at a four-year low, a separate survey showed. Investors in Treasuries bet for a seventh straight week prices of the securities will fall, a JPMorgan Chase & Co. survey showed.
Investors raised neutral bets to 57 percent from 51 percent, the survey reported.