Treasuries fell, following a four- week gain, after President Barack Obama said he was confident the U.S. will avoid the automatic spending cuts and tax increases scheduled to occur at year-end.

Ten-year yields climbed from near the lowest level in two months before an industry report that economists said will show sales of previously owned U.S. homes were within 2 percent of the most in two years in October. Treasuries also declined as European and Asian stocks rallied, damping demand for safer assets. Nomura Holdings Inc., one of the 21 primary dealers that underwrite the U.S. debt, said it was trimming its position as officials made progress on the so-called fiscal cliff.

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