NEW YORK, July 9 U.S. Treasuries prices firmed
Tuesday afternoon after the Treasury's three-year auction met a
The benchmark 10-year Treasury note, down 1/32
before the sale, was up 1/32 afterwards. The 30-year Treasury
bond erased a quarter of its loss.
The ratio of bids received for the auction to those accepted
was 3.35, higher than the average 3.27 bid-cover ratio for the
last four three-year note auctions.
Treasuries built in a "modest outright concession" before
the 1 p.m. (1700 GMT) bidding deadline, "plus 3s were the
underperformer on the curve," noted CRT Capital Group government
bond strategist Ian Lyngen. "Since the (auction) results,
Treasuries have bounced slightly."