U.S. Treasury debt prices fell on Tuesday, bumping benchmark 10-year yields above 2 percent for the first time in a month as investors positioned for a probable rate hike by the Federal Reserve and big government bond auctions.
The Treasury Department auctioned $24 billion in three-year notes at a high yield of 1.050 percent. The bid-to-cover ratio, an indicator of demand, was 3.34, compared to a recent average of 3.29.
Indirect bidders, which include major central banks, were awarded 49 percent, well above the 35 percent average. Direct bidders, which includes domestic money managers, brought 7.2 percent, versus a recent average of 18 percent.
CNBC
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