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U.S. Yields Lower after Lackluster Sale

The Treasury Department auctioned $29 billion in seven-year at a high yield of 2.018 percent, the lowest since May. The bid-to-cover ratio, an indicator of demand, was the weakest since November at 2.42.

Indirect bidders, which include major central banks, were awarded 46.6 percent, above the 45 percent recent average.  Direct bidders, which includes domestic money managers, brought 15.4 percent, compared to a recent average of 20 percent.

Prices for benchmark 10-year Treasury notes rose 3/32 to yield 2.31 percent on Thursday late morning, down from a three-week peak of around 2.36 percent on Wednesday after the Federal Reserve announced the end of quantitative easing. Prices and yields are inversely related.

CNBC [1]

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