Treasurys are mixed after auction of 5-year notes

AP News
Posted: Jun 27, 2012 2:47 PM

Treasury prices are little changed after the government raised $35 billion in a sale of five-year notes.

The Treasury Department auctioned the notes Wednesday at a yield of 0.75 percent. Demand was weaker than in recent auctions. Bond buyers placed $2.61 in bids for every dollar up for sale. That's below the average of $2.98 over the past six months.

The sale of five-year notes was the second of three auctions this week, which are expected to raise a total of $99 billion.

In afternoon trading, the price of the 10-year Treasury note is down 6.25 cents for every $100. Its yield rose to 1.64 percent from 1.63 percent late Tuesday. The price of the 30-year bond dropped 6.25 cents, and its yield was unchanged at 2.70 percent.