Government bond prices fell Thursday following weak bidding at an auction for 30-year Treasurys.
The Treasury Department sold $16 billion in 30-year bonds at a yield of 4.38 percent. Investors placed bids for 2.43 times the amount up for auction, less than the average over the previous four sales.
The Treasury raised a total of $72 billion through three debt auctions this week.
Yields on government debt have been trading near their lowest levels this year as traders sell off commodities and park cash in Treasurys.
The 30-year bond is down 87.5 cents for every $100 invested in afternoon trading. The drop in price lifted the yield to 4.35 percent.
The 10-year note is down 31.25 cents. Its yield rose to 3.23 percent, up from 3.16 percent late Wednesday. The yield on the two-year Treasury note was flat at 0.55 percent.
The yield on the three-month T-bill was unchanged at 0.01 percent. Its discount was 0.02 percent.