Treasury Yields Fall From Almost 11-Month High
This article is for subscribers only.
Treasury 10-year note yields declined from almost the highest level in 11 months as the government’s $21 billion auction of the securities drew the strongest demand since October.
The notes yielded 2.029 percent, compared with a forecast of 2.057 percent in a Bloomberg News survey of eight of the Federal Reserve’s 21 primary dealers. The bid-to-cover ratio, which gauges demand by comparing total bids with the amount of securities offered, was 3.19, versus 2.68 at the February sale. Treasury yields climbed earlier after U.S. retail sales rose last month twice as much as forecast.