US Treasuries Fall as Trade Deals Dampen Demand for Haven Assets

Treasuries fell for the first time after five days of gains as demand for haven assets waned after the Trump administration moved forward on deals with key trading partners.

Yields settled about four to five basis points higher Wednesday, with the benchmark 10-year note’s at 4.38%. The market broadly held steady after a $13 billion auction of 20-year debt drew strong demand, a sign investors are willing to snap up longer-dated US government debt while rates remain high.