Treasuries drop as Fed may scale back further

U.S. Treasuries declined on Friday trading session with the benchmark 10-year yields rising to the strongest level in over two years amid speculation that the U.S. Federal Reserve may trim its bond-purchasing program more as the economy improves. 10-year bonds yielded two basis points higher at 3.01% as of 7:45 a.m. in New York, the most since July 2011.