NEW YORK (MarketWatch) — Treasury prices turned higher Thursday, pushing yields on 10-year notes to the lowest in a week, as traders eyed the upcoming 7-year notes auction to give a snapshot of investor demand for U.S. debt.
Yields on 10-year notes 10_YEAR -0.47% , which move inversely to prices, fell 4 basis points to 2.95% and yields on 2-year notes 2_YEAR -5.11% dropped 4 basis points to 0.42%.
30-year bond yields 30_YEAR -0.61% shed 3 basis points to 4.26%.
A basis point is 1/100th of a percentage point.
In the afternoon the Treasury Department finishes the auctions for the week when selling $29 billion in 7-year debt 7_YEAR -0.75% . Monday’s auction of 5-year notes 5_YEAR -1.22% showed a weak demand for U.S. debt, but analysts expect a better outcome for the 7-year notes.
