Investing.com -- Yields on 10-year Treasury fell Wednesday after the U.S. government sold $39 billion of 10-year Treasuries at a lower-than-expected yield even as demand dipped.
The notes were awarded at 4.421%, 0.7 basis point below the expected yield, or when-issue rate, of 4.428%, but above the 4.342% high seen in the prior auction.
The bid to cover ratio, a gauge of demand, for the auction was 2.52, down from 2.60 previously.
International demand led the bidding, accounting for 70.6%, while direct bidders accounted for 20.5% of the auction.
The yield on the United States 10-Year fell 6.6 basis points to 4.41% following the auction result.
