U.S. Treasury yields extended earlier gains on Thursday after the government’s lukewarm auction of seven-year notes, the last of three debt offerings this week.
Treasury Department auctioned $29 billion in seven-year notes at a high yield of 1.834 percent, higher than January’s 1.590 percent. The bid-to-cover ratio, an indicator of demand, was 2.37, the lowest since November 2013.
Benchmark yields edged up modestly after the announcement. Ten-year note yields rose to 2.00 percent, while seven-year note yields rose to 1.83 percent. Thirty-year bond yields edged up to 2.59 percent.