U.S. sells 10-year debt at 2.02%; bonds down
NEW YORK (MarketWatch) — The Treasury Department sold billion in 10-year notes on Wednesday at a yield of 2.02%. Bidders offered to buy 3.05 times the amount of debt sold, compared to an average of 3.02 times at the last four sales of new 10-year notes, according to CRT Capital Group. Indirect bidders, a group which includes foreign central banks, bought 38.9%, below the 48.9% average at recent sales. Direct bidders – a class which includes domestic money managers — purchased another 17.2%, versus an average of 12.1%. After the auction, the broader bond market remained under slight pressure. Yields on the current 10-year notes , which move inversely to prices, stayed up 1 basis point to 1.99%.
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