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Treasurys fall on news of mortgage-bond sale

Treasurys fall on news of mortgage-bond sale

Treasurys are slipping after the government announced plans to start selling $142 billion in mortgage bonds.
The Treasury said Monday that it will sell up to $10 billion of mortgage-backed bonds each month beginning in March. The announcement marks another step by the government to end emergency programs launched in 2008 and 2009 to help markets through the financial crisis.
The sales also add to the supply of government-backed bonds in the market and could draw investors away from lower-paying Treasurys.
In afternoon trading, the 10-year Treasury note fell 43.7 cents per $100 invested. Its yield rose to 3.33 percent from 3.27 percent late Friday. Bond yields rise when prices fall.
The price on the 30-year bond fell 62.5 cents. Its yield rose to 4.46 percent from 4.42 percent.


Updated : 2021-02-27 06:59 GMT+08:00