US Treasury Yields Rise After Soft Demand for 10-Year Note Auction
The US Treasury building in Washington.
Photographer: Al Drago/BloombergLong-dated Treasury yields rose after an auction of 10-year notes drew weak demand and traders shifted their focus to the sale of 30-year bonds Thursday.
The benchmark 10-year yield were up about two basis point to 4.23% Wednesday afternoon, while shorter-dated tenors edged lower. The move followed soft demand for the $42 billion sale, the second of three auctions this week.