NEW YORK (CNNMoney.com) -- Treasurys were mixed Monday as investors prepare for a weekly offering of U.S. debt, worth $81 billion, amid ongoing concerns about struggling European economies.
What prices are doing: The benchmark 10-year note fell 5/32 to 98-8/32, pushing the yield up to 3.58% from 3.56% late Friday. Prices and yields move in opposite directions.
The 2-year note ticked down 1/32 to 100-5/32, yielding 0.78%. But the 30-year bond held steady at 97-18/32. Its yield was 4.52%.
What's moving the market: The mixed action came one day before the Treasury plans to bring $40 billion worth of 3-year notes to market.
The U.S. will also offer $25 billion in 10-year notes Wednesday and $14 billion in 30-year bonds on Thursday. The auctions, which will settle on Feb. 16, are part of the government's quarterly refunding.
Bond prices often decline ahead of big auctions as investors adjust portfolios for the influx of new supply.
But the losses were limited by ongoing fears that the fiscal problems facing Greece, Portugal and Spain could hinder economic growth in Europe and stifle the fragile recovery there.
Those fears weighed on stock markets around the world and helped boost demand for safe-haven assets such as Treasurys.
In addition to concerns about Europe, investors are continuing to digest last week's U.S. jobs report.
On Friday, the Labor Department said 20,000 jobs were lost in January even though the unemployment rate fell to 9.7% from 10% in December.
Analysts said the report was inconclusive and that the market will look to this week's jobless claims data, due Thursday, for a clarity.
What analysts are saying: Bill Larkin, a fixed-income analyst at Cabot Money Management, said this week's auctions were "putting a damper on the market."
"But because of the uncertainty in Europe, we're not seeing a major rebound in the stock market, and that will attract more money to the debt market," he said.
Looking ahead, Larkin said he expects Treasurys to be "trading in a sideways marketplace" until the job market recovers and consumer spending, which makes up the bulk of U.S. economic activity, begins to rebound. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.89% | 3.88% | |
| 15 yr fixed | 3.21% | 3.21% | |
| 5/1 ARM | 2.87% | 2.88% | |
| 30 yr refi | 3.96% | 3.96% | |
| 15 yr refi | 3.30% | 3.29% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,801.23 | -89.23 | -0.69% |
| Nasdaq | 2,903.88 | -23.35 | -0.80% |
| S&P 500 | 1,342.64 | -9.31 | -0.69% |
| Treasuries | 1.97 | -0.08 | -3.81% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 8.07 | -0.11 | -1.34% |
| Cisco Systems Inc | 19.90 | -0.10 | -0.52% |
| Ford Motor Co | 12.44 | -0.25 | -1.97% |
| General Electric Co | 18.88 | -0.26 | -1.33% |
| Microsoft Corp | 30.50 | -0.16 | -0.54% |
|
Now that the complex deal negotiations are over, many foreclosures that had been stuck in limbo will proceed. More |
Audit of the Energy Department's controversial loan program in the wake of Solyndra says the risks are slightly less than DOE predicted, largely thanks to a stronger Ford. More |
Buzzy social network Pinterest got caught in a disclosure controversy after users found affiliate links slipped into their pins. More |
One family-owned Chicago pizzeria is helping to make love connections nationwide with heart-shaped pizzas on Valentine's Day. More |
Hoping to cut their losses, banks are paying delinquent homeowners up to $35,000 in incentives to sell their homes in short sales and avoid foreclosure. More |
.
