Summary Box: Treasurys fall after long bond sale

AP News
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Posted: Oct 14, 2010 6:07 PM
Summary Box: Treasurys fall after long bond sale

LONG BONDS FOR SALE: The Treasury wrapped up its third and final bond auction of the week, raising $13 billion in a sale of 30-year bonds. The bond's higher yield was expected to draw buyers reluctant to bid for other Treasurys offering miniscule rates.

WEAK APPETITE: Investors placed bids for 2.49 times the amount offered. This bid-to-cover ratio was well below the average over the past year, a sign of sagging interest in 30-year Treasury bonds.

THE BENCHMARK: The yield on the 10-year note, used to set rates on mortgages and other loans, rose to 2.51 percent from 2.42 the previous day. That's a sharp one-day jump, but the yield is still close to its lowest point this year: 2.33 percent.