US Bonds Stall After Best Run for 10-Year Treasuries in Months
- Treasury note’s yield has declined for five straight days
- New 10-year note is set to debut via $42 billion auction
This article is for subscribers only.
A rally in Treasuries that’s delivered the longest streak of gains for benchmark 10-year debt since August paused on Wednesday ahead of another chunky auction of securities.
Yields for all maturities rose as much as 3 basis points as of 9:55 a.m. in New York. The US government is set to sell $42 billion of new 10-year notes at 1 p.m. and $25 billion of 30-year bonds on Thursday. While investors often seek higher yields to absorb additional bond issuance, a sale of three-year securities on Tuesday received solid demand despite rallying beforehand, and yields remained lower on the day afterward.