Treasuries End Slightly Lower

Treasuries closed slightly lower as the market saw a weaker dollar, and bond dealers were on the watch for intervention and demand for Treasuries, according to Action Economics. Trading during the day came from hedge funds, dealers, arbitrageurs and retailers. An auction of 2-year treasury notes also boosted bond prices. The auction produced solid results with the bid-to cover ratio at 2.61% at 2.945%. Indirect bids were below average and totaled 43.5%. The 10-year treasury yield dipped down to 4.15% but closed at 4.18%.

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