The yield on the benchmark 10-year Treasury security rose the most since October yesterday as lawmakers approved a budget averting income-tax increases for more than 99 percent of households, breaking an impasse about how to avert the so-called fiscal cliff.

Lawmakers must next tackle the U.S. debt ceiling, which reached its $16.4 trillion limit on Dec. 31. Losses may be tempered as the 10-year note yield touched 1.86 percent, the highest since Sept. 17 and a level that indicates the security may be oversold.

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