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Treasury prices rebound after bond auction

Treasury prices rebound after bond auction

Treasury prices are rallying after the government's $29 billion auction of long-term bonds exceeded expectations.
The price on the 10-year Treasury note rose 84.4 cents per $100 invested in afternoon trading Wednesday. Its yield, which moves in the opposite direction, dropped to 3.37 percent from 3.49 percent late Tuesday.
The Treasury sold $29 billion in seven-year bonds on Wednesday. The auction attracted strong bidding, especially from foreign central banks and the Federal Reserve. The sale also marked the government's last note auction this year.
The sale follows a disappointing auction of $35 billion in five-year bonds Tuesday and a successful sale of $35 billion in two-year bonds Monday.


Updated : 2021-07-29 00:30 GMT+08:00