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US Treasury yields spike as Fed hints at timetable

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U.S. Treasurys fell on Wednesday, as the Federal Reserve's minutes hinted at unwinding its massive stimulus, keeping yields only modestly higher.

Minutes from the Federal Open Market Committee (FOMC)'s meeting in October said that policymakers expected that data would justify a taper 'in the coming months'--all but putting a timetable on the $85 billion a month program.

The news converged with strong data from the Commerce Department, which said retail sales rose 0.5 percent last month and that so-called core sales rose 0.5 percent.

The benchmark 10-year Treasury note traded 24/32 lower, with its yield near 2.798 percent. The 30-year bond was down 1-24/32 in price. Its yield rose to 3.906 percent.

—By Reuters.

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