January 13, 2015 / 7:06 PM / 4 years ago

U.S. sells 10-year note at lowest yield since May 2013

NEW YORK, Jan 13 (Reuters) - The U.S. Treasury Department on Tuesday sold $21 billion of 10-year Treasuries notes at a yield of 1.930 percent, the lowest since May 2013 but higher than what traders had expected.

The ratio of the amount of bids to the amount of 10-year notes offered was 2.61, lower than December’s 2.97 which was the highest since March 2013.

Foreign central banks, large fund managers and indirect bidders bought 50.02 percent of the second reopening of a 10-year issue introduced in November. This was below the 53.82 percent at the December 10-year auction, which was the highest in three years, Treasury data showed.

The mildly disappointing 10-year auction results briefly pushed longer-dated Treasuries yields higher on the open market, but they reversed course as Wall Street stocks turned lower, rekindling some safe-haven bids for bonds.

The Treasury will sell $13 billion in 30-year bonds on Wednesday, the final part of this week’s $58 billion in fixed-rate government debt supply. (Reporting by Richard Leong; Editing by Chris Reese)

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