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CHANGE: Treasurys fall after weak auction of 3-year notes. ?Treasurys extended a weeklong fall on ?

By Glenn Reynolds

CHANGE: Treasurys fall after weak auction of 3-year notes. “Treasurys extended a weeklong fall on Tuesday after the government’s auction of $32 billion in new debt met with tepid demand. The yield on the 10-year note rose to the highest level in 10 months. The government auctioned three-year notes at a yield of 1.34 percent. That’s the most expensive borrowing cost the government has had to pay on those notes since last May. Foreign buyers showed weak interest in the sale. Indirect bidders, a rough proxy for foreign funds and banks, took 27 percent of the notes, the lowest share since May 2007.”

Full post as published by Instapundit.com on February 08, 2011 (boomark / email).