US Treasuries Jump as Strong Auction Calms Investor Jitters

The Treasury market rallied after an auction of 10-year notes drew strong demand, easing concerns that investors will balk at financing swelling US deficits.

Treasuries gained across maturities, snapping five days of losses and pushing the 10-year yield about six basis points lower to 4.34%. The debt extended gains following a smooth $39 billion auction Wednesday.