US Treasuries Slip as Waning Haven Bid Smooths Auction Result
- Investors show up for $58 billion of three-year notes
- Yields rise across the curve as traders pare Fed rate-cut bets
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US Treasuries fell as demand for haven assets waned globally, with the rise in yields helping smooth a $58 billion auction of three-year notes in afternoon trade.
Yields jumped at least nine basis points across the curve, with the two-year yield at one stage rising above 4%. Investor demand for the new three-year notes at 1 p.m. New York time was solid, with the rate on bonds with a similar maturity above 3.8% after sliding to the lowest in more than a year on Monday.