Treasuries Rise as 20-Year Auction Highlights Solid Demand
The HDMS Knud Rasmussen ship of the Danish Navy patrols near Nuuk, Greenland on Jan. 20.
Photographer: Sean Gallup/Getty ImagesTreasuries climbed as strong demand for an auction of 20-year bonds allayed concerns about repercussions for US financial assets of President Donald Trump’s threats of Greenland-related tariffs, and advanced further after he backed down.
The rise in Treasuries on Wednesday pushed yields lower across maturities and helped the world’s biggest bond market to recoup some of its losses from earlier in the week. The gains, which were echoed by advances in the dollar and US stocks, came amid a $13 billion auction of 20-year debt that was awarded at 4.846%, about a basis point lower than its yield at the bidding deadline. That investors settled for a lower interest rate indicates demand was stronger than anticipated.