1:18 PM » Treasurys extend fall after weak 10-year note auction
NEW YORK (MarketWatch) -- The Treasury Department sold $21 billion in 10-year notes Wednesday at a yield of 2.597%. Bidders offered to buy 2.57 times the amount of debt sold, compared to an average of 2.74 times at the last six sales. Indirect bidders, a group that includes foreign central banks, bought 39.6%, versus 45% in recent sales. Direct bidders, which include domestic money managers, purchased another 13.9%, versus an average of 18.9%. The broader bond market extended its fall after the auction. Yields on 10-year notes, which move inversely to prices, rose 2.5 basis points on the day to 2.588%.