- US Treasuries rose on Wednesday after a strong $39 billion auction of 10-year notes signaled emerging investor demand.
- The 10-year notes were awarded at 5.3%, 1.88 basis points below the prevailing yield seen before the auction, an indication of solid demand.
- The auction came as long-term US bond yields reached multi-decade highs, with yields at their highest since 2002.
Quotes
“US Treasuries rose after a strong auction of 10-year notes signaled emerging investor demand as yields rise to multi-decade highs.”
“Long-term bond yields erased earlier increases on Wednesday after the US Treasury Department’s $39 billion sale of 10-year notes was awarded at 5.3%, or 1.88 basis points below the prevailing yield seen before the auction — an indication of solid demand.”