Traders Brace for Rough 30-Year Treasury Sale Amid Tepid Demand
- Wednesday’s 3-, 10-year U.S. debt offerings both tail slightly
- Bonds fail to get much of a boost from tumbling stocks
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The Treasury may face a rough reception for its sale of $15 billion of 30-year bonds Thursday, judging by the less-than-stellar demand for its double-barrel round of 3- and 10-year note auctions.
Even yields at multiyear highs and a wave of risk aversion that drove U.S. stocks lower weren’t enough to bolster interest in Wednesday’s note auctions. Treasury sold $23 billion of 10-year securities and $36 billion of 3-year debt at yields just above levels at the bidding deadline. The offerings also drew below-average measures of demand.