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Treasuries Pare Losses Before Auction as Yields Attract Buyers

March 28 (Bloomberg) -- Treasuries pared losses as two-year note yields at a three-week high attracted buyers before the $35 billion auction of the debt.

“We’ve seen buyers stepping in at those levels,” said Kevin Flanagan, a Purchase, New York-based fixed-income strategist at Morgan Stanley Smith Barney. “I don’t think necessarily it’s the beginning where you say yields have topped out for now.”

To contact the editor responsible for this story: Dennis Fitzgerald at dfitzgerald5@bloomberg.net

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