NEW YORK Jan 7 U.S. Treasuries prices trimmed
gains on Tuesday after a $30 billion auction of three-year notes
supply fetched weaker-than-expected demand, raising some worries
about appetite for the rest of the government debt for sale
later this week.
The bid-to-cover ratio on the latest three-year note issue
, which gauges the bid total to the amount debt
offered, was 3.25. This was below the 3.55 in December and its
12-month average, according to data from the Treasury
Benchmark 10-year Treasuries notes briefly pared
their gain to 1/32 before bouncing back to 4/32. The 10-year
yield was last 2.947 percent after rising to 2.954 percent
shortly after the three-year auction results.
The Treasury Department will sell $21 billion in 10-year
notes on Wednesday and $13 billion in 30-year
bonds on Thursday.