The suffocation of the Treasury market continues.
U.S. Treasury debt prices added to losses after mediocre demand for a record $23 billion auction of 10-year notes .
The auction saw a high yield of 3.734 percent at a bid-to-call ratio of 2.49. Bid-to-call measures auction demand, comparing the amount of supply to the number of bids. Treasury received bids worth $57.26 billion and accepted $23 billion.
In the open market, the price on benchmark 10-year Treasury notes was down 19/32, compared with a 12/32 fall shortly before the Treasury announced its 10-year auction results.
The 30-year bond is getting pounded. It is down 1-19/32 to yield 4.54 percent, up from 4.44 percent late on Tuesday.
(Via CNBC)
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