U.S. Treasuries Sell Off
December 9th, 2010Monitoring…
Via: Reuters:
Treasury prices plunged on Wednesday for a second straight day, pushing benchmark yields to a six-month high, after a deal in Washington to extend tax cuts fueled fears of inflation and a swelling budget deficit.
The sharp dip in prices brought some buyers to the table in an auction of $21 billion of reopened 10-year notes, which was part of $66 billion of coupon-bearing securities sales this week. Bond prices rebounded somewhat from their lowest levels of the day following the sale, which analysts said saw about average demand.
Still, sentiment remained strongly bearish heading into the sale of $13 billion of reopened 30-year bonds on Thursday.
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