Treasuries Slip Ahead of Greenspan Speech
Treasuries slipped after mediocre results from a two-year auction. The record $25 billion sale of notes was not digested well. Also, the stock rebound and anticipation for an upbeat speech from Greenspan on Thursday pushed two-year notes down. Supply and deficit spending proved a toxic cocktail for Treasuries on Wednesday, says S&P's MMS. Yields were sharply higher across the spectrum.