[SINGAPORE] Treasuries were the world's worst-performing bonds this year before the Federal Reserve was due to start a two-day meeting yesterday to decide whether to reduce its debt-buying programme.
US government securities due in a decade and longer have fallen more than 11 per cent in 2013 to Monday, the biggest loss among 144 debt indices tracked by Bloomberg and the European Federation of Financial Analysts Societies.
Data this month showed the US jobless rate fell to a five-year low of 7 per cent, while manufacturing and retail sales expanded. The Treasury was scheduled to sell US$32 billion of two-year debt yesterday in the first of four note auctions this week.
"The Federal Reserve could...
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