Euro dips vs dollar after German ZEW

Treasury yields were near the highest level in two weeks as investors gained confidence in the global economy’s ability to overcome Europe’s debt crisis, curbing demand for the relative safety of U.S. securities.

Record bond yields in Europe are proving too good to miss for Michiel de Bruin at F&C Asset Management as predictions of imminent sovereign defaults subside. U.S. yields have increased this month as the government prepared to auction $35 billion of three-year notes today, $21 billion of 10-year debt tomorrow and $13 billion of 30-year bonds on July 14. read more