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TREASURIES-U.S. bond prices pare gains after 3-year auction
January 7, 2014 / 6:26 PM / 4 years ago

TREASURIES-U.S. bond prices pare gains after 3-year auction

NEW YORK, Jan 7 (Reuters) - 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 Department.

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.

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