U.S. Treasury Dept auctions $24B of 3-year notes at a high yield of 0.850%

The U.S. Treasury Department auctioned $24 billion in 3-year notes at a high yield of 0.85 percent. The bid-to-cover ratio, an indicator of demand, was 2.98.

Indirect bidders, which include major central banks, were awarded 56.9 percent.

Direct bidders, which includes domestic money managers, bought 9.5 percent.

U.S. sovereign bonds were mixed on Tuesday after stocks closed lower Monday on Wall Street in one of the year’s slowest sessions.

The yield on the 10-year Treasury note, sat flat at 1.5696 percent on Tuesday. Bond yields move inversely to prices.

Thirty-year yields also fell slightly, down at 2.2779 percent.

In the U.S., wholesale inventories for June data are out on Tuesday. Second-quarter labor productivity fell 0.5 percent.

Source: CNBC

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