Treasury 10-year note yields traded at almost the highest level in 13 months as the U.S. prepared to sell $29 billion of seven-year securities and traders speculated whether the Federal Reserve will consider reducing stimulus, Bloomberg reports.

"We’re going to higher yields," said Charles Comiskey, head of Treasury trading at Bank of Nova Scotia. "The Fed laid out their views on tapering. It all goes back to the data. The pressure is going to remain on the Treasury market until there’s clarity at the next meeting."