“Treasuries are off to their worst start to a year since 2009 as money managers prepared to bid at three sales of notes and bonds totaling $66 billion this week, starting with a $32 billion three-year debt auction today.
U.S. government securities, little changed today, handed investors a 0.7 percent loss in 2013 as of yesterday, according to Bank of America Merrill Lynch indexes. It was the biggest decline for a first week since the Treasury was preparing to ramp up debt sales four years ago as it tried to snap a recession. Bonds slid after the Federal Reserve indicated it may stop its debt purchases in 2013 and as lawmakers averted the so- called fiscal cliff of spending cuts and tax increases….”
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