Treasuries Recover After 7-Year Auction Sees Record Indirect Bid
- Benchmark U.S. yields remain close to highest this month
- Early losses led by European debt on strength in U.K. GDP
This article is for subscribers only.
Treasuries rallied after an auction of $28 billion in seven-year notes drew a record amount of buying from indirect bidders, signaling interest from foreign central banks and mutual funds.
The benchmark 10-year yield fell about 1 basis point to 2.5 percent at 4:20 p.m. in New York, according to Bloomberg Bond Trader data. It climbed as much as 4 basis points earlier, reaching the highest since December.