Treasuries fell on Friday as bets grew that the Federal Reserve will end it string or rate cuts at its next policy meeting.
Futures traders on the Chicago Board of trade are expecting the Fed will keep its benchmark interbank lending rate to remain unchanged or post a slight drop. There is a 26 percent chance the Fed will keep rates the same, compared to a week earlier when only 2 percent expected the rate to stay constant. The remaining bets are for a quarter point cut.
Two year treasuries fell 2/32 in price to yield 2.431 percent in late trading on Friday. Ten year treasuries dropped 10/32 in price to yield 3.874 percent.