July 9, 2014 / 5:25 PM / in 4 years

TREASURIES-U.S. bond yields rise to session highs after auction

NEW YORK, July 9 (Reuters) - U.S. Treasuries yields climbed to session highs early Wednesday afternoon following weak results on a $21 billion auction of an older 10-year government debt issue

The yield on the note due in May 2024 cleared at 2.597 percent, which was the lowest since June 2013, but it was about 1 basis point above what traders had expected.

Large investors and other direct bidders bought 13.91 percent of the latest 10-year supply, which was their smallest share since January.

On the open market, benchmark 10-year yields last traded at 2.590 percent, a tad below a session peak of 2.594 percent set shortly after the Treasury Department announced the 10-year auction results.

Reporting by Richard Leong; Editing by Meredith Mazzilli

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