Treasuries extend losses after tepid 10-yr auction
Wed Aug 9, 2006
NEW YORK, Aug 9 (Reuters) - U.S. Treasury debt prices slighty extended losses on Wednesday after tepid interest in an auction of $13 billion of new 10-year Treasury notes.
The bid-to-cover ratio on the new notes at the auction was 2.23, below the average of 2.42 in the last four auctions of new 10-year notes, while indirect bidder interest was 30.1 percent which was also below the average of 43.5 percent in the last four auctions of new 10-year notes.
The benchmark 10-year notes <US10YT>_were trading 7/32 lower in price for a yield of 4.96 percent from 4.95 percent just before the close of the auction and 4.93 percent late on Tuesday.