U.S. Treasury yields pared their drop after a $38 billion auction for benchmark 10-year notes on Wednesday afternoon “tailed” by a single basis point, a sign of tepid demand. The 10-year Treasury note yield
was trading at 1.520%, 2.4 basis points below from where it started on the day but off its lowest levels. Bond prices move inversely to yields. Investors have shown an interest in the performance of recent Treasury debt auctions, following a poor 7-year note sale two weeks ago that triggered a bout of fierce selling in the bond market.
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