10-Year Note Yields Rise
WASHINGTON — Yields on 10-year Treasury notes rose in Wednesday’s auction to the highest level since August as the government continued its $36-billion refunding auction.
The average yield was 7.53%, up from 7.29% at the last auction on Feb. 12. It was the same rate as the Nov. 6 auction and the highest since the 10-year notes averaged 7.94% on Aug. 7.
The notes will carry a coupon interest rate of 7.50%, with each $10,000 in face value selling for $9,979.20.
A total of $11.1 billion in notes were sold out of bids totaling $33.4 billion.
The three-day refunding concludes today with an offering of $10 billion in 30-year bonds. It opened Tuesday with the sale of $15.1 billion in three-year notes at an average yield of 5.96%.
The auctions are held four times a year to replenish government coffers drained by huge deficits.
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