U.S. Markets closed

Treasury prices edge lower after debt auction

NEW YORK (AP) -- Treasury prices fell slightly Wednesday after the government raised $35 billion from bond buyers.

The Treasury sold 5-year notes at a yield of 1.04 percent. Buyers placed bids for 2.85 the amount up for sale, in line with the average over the past year.

In Treasury market trading, the price of the 10-year note fell 15.6 cents for every $100 invested. The yield, which is used to help set rates on mortgages and other loans, rose to 2.20 percent. That's up from 2.19 percent late Tuesday.

The price of the 30-year Treasury bond fell 9.3 cents. Its yield inched up to 3.31 percent from 3.30 percent late Tuesday. The yield on the 2-year note rose to 0.34 percent from 0.32 percent.

In the market for short-term bills, the 3-month T-bill paid a yield of 0.08 percent.

The sale of 5-year notes was the second of three Treasury auctions this week. The Treasury will sell $29 billion in 7-year notes Thursday.