NEW YORK (CNNMoney.com) -- Long-term U.S. debt prices rose Thursday after a government auction of $13 billion in 30-year bonds.
What prices are doing: After the auction, the 30-year bond rose 16/32 to 99-13/32 and its yield fell to 4.665%. Bond prices and yields move in opposite directions.
The benchmark 10-year note rose 1/32 to 99-7/32, with a yield of 3.723%.
Short-term notes fell after the auction. The 2-year note fell 3/32 to 99-28/32, with a yield of 0.956%. The 5-year note fell 4/32 to 99-28/32, with a yield of 2.41%.
What's moving the market: Thursday's 30-year-bond auction marked the last of the government's $74 billion offerings in notes and bonds this week. Demand was strong in the 3-year note sale Tuesday, the 10-year note auction Wednesday and continued to hold strong on Thursday.
Investors submitted bids totaling nearly $37.6 billion for the $13 billion worth of 30-year bonds.
The bid-to-cover ratio, a measure of demand, was 2.89. That was up from 2.36 at the previous auction in February.
Stocks dipped Thursday morning, partially offsetting Treasury losses, as investors weighed a mix of economic reports. The Labor Department reported a lower-than-expected drop in weekly jobless claims and an increase in continuing claims.
The Census Bureau reported that the trade gap narrowed in January to $37.3 billion -- significantly less than expected.
A report on foreclosure rates showed an increase on a year-over-year basis but the pace slowed.
What analysts are saying: Overall, Thursday looked to be "a pretty quiet day," said Wan-Chong Kung, a senior fund manager at First American Funds. The 30-year auction brought no surprises and economic reports released earlier in the morning weren't major drivers in the treasury market.
Meanwhile, investors are looking ahead to next week's Federal Open Market Committee meeting set for March 16. Will the Fed signal a change and begin to increase interest rates? That's the question on everyone's mind, Kung said. 
| 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 | 12,840.74 | 39.51 | 0.31% |
| Nasdaq | 2,920.13 | 16.25 | 0.56% |
| S&P 500 | 1,347.82 | 5.18 | 0.39% |
| Treasuries | 1.97 | 0.00 | 0.25% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 8.26 | 0.19 | 2.36% |
| Ford Motor Co | 12.63 | 0.19 | 1.53% |
| Cisco Systems Inc | 20.04 | 0.14 | 0.70% |
| Chesapeake Energy Co... | 23.21 | 1.08 | 4.89% |
| Sprint Nextel Corp | 2.30 | 0.02 | 0.66% |
|
Apple's stock surpasses $500 for the first time, just six months after the company first passed $400. More |
Obama's 2013 budget will include many tax proposals he has offered before. One new addition is the Buffett Rule, but don't expect much more detail. More |
Apple's stock surpasses $500 for the first time, just six months after the company first passed $400. More |
One family-owned Chicago pizzeria is helping to make love connections nationwide with heart-shaped pizzas on Valentine's Day. More |
This year, taxpayers can claim up to $13,360 for each child they've adopted on their 2011 tax returns -- a major windfall for some unsuspecting parents. Just be prepared for long waits and the possibility of a tax audit. More |
.
