TREASURIES-U.S. bonds cut gains after weak 30-year bond auction
NEW YORK, June 13 (Reuters) - U.S. Treasuries reduced price gains on Thursday after a weak U.S. 30-year Treasury auction.
Bond prices had risen and yields had fallen before the auction bidding deadline, making the securities a little less attractive to potential buyers.
Before the 1 p.m. EDT (1700 GMT) deadline, the 30-year bond was up about a point. After the auction, the bond was up just 14/32 in price, its yield at 3.35 percent.
The benchmark 10-year Treasury note, up 15/32 before the bidding deadline, was up 9/32 afterwards, yielding 2.20 percent.
"The auction was weak with a 3.3 basis point tail and non-dealer bidding at 48.7 percent versus the 51.5 percent norm," said Ian Lyngen, senior government bond strategist at CRT Capital Group in Stamford, Connecticut.
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