NEW YORK, April 9 (Reuters) - U.S. Treasuries prices fell to session lows Wednesday afternoon in reaction to weaker-than-expected demand for $21 billion in 10-year government notes and in advance of the Federal Reserve’s release of the minutes on its March 18-19 policy meeting.
Analysts blamed the below-average purchase from large investment funds and other direct bidders for the higher-than-expected yield of 2.72 percent set at the reopening of a 10-year note issue originally introduced in February .
On the open market, the 10-year Treasuries note last traded down 10/32 in price to yield 2.717 percent, up 3.6 basis points from late on Tuesday.
The 10-year yield was within striking distance of its 200-day moving average of 2.721 percent, according to Reuters data. (Reporting by Richard Leong; Editing by Diane Craft)