Treasury prices were little changed Tuesday after the government sold $32 billion in three-year notes to banks and other bond buyers.
Treasury prices usually fall ahead of an increase in supply. But demand for U.S. government debt remained strong Tuesday. At the Treasury auction, buyers placed bids for a record 3.73 times the amount up for sale.
The three-year notes were sold to buyers at a rate of 0.37 percent, lower than the recent average.
In Tuesday afternoon trading, the 10-year Treasury dipped 9.37 cents for every $100 invested. Its yield rose to 1.97 percent from 1.96 percent late Monday.
The 30-year bond fell 25 cents per $100. Its yield inched up to 3.03 percent from 3.02 percent late Monday. The yield on the two-year note was 0.26 percent, the same as the day before.
The Treasury expects to raise $66 billion through three debt auctions this week. The next comes Wednesday with the sale of $21 billion in 10-year notes.
In the market for short-term Treasury bills, the three-month T-bill paid a 0.01 yield.
Shares