Treasurys slip ahead of auction

By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- Treasury prices fell Tuesday, as the government offered $21 billion in 10-year notes and better-than-expected corporate results renewed investor confidence in riskier assets.

What prices are doing: The benchmark 10-year note was down 11/32 to 103-11/32 and its yield fell to 3.11% from 3.02% late Monday. Bond prices and yields move in opposite directions.

bonds.png

The 2-year note was edged down 1/32 to 99-30/32 with a yield of 0.67%, while the 5-year note lost 6/32 to 99-30/32 and yielded 1.89%.

The 30-year bond fell 21/32 to 104-26/32 with a yield of 4.10%.

What's moving the market: The Treasury Department is auctioning $21 billion in 10-year notes later Tuesday, as part of its $69 billion worth of notes and bonds this week in quarterly refunding.

Meanwhile, demand for the safety of U.S. government debt faded as investors regained confidence after Alcoa's (AA, Fortune 500) better-than-expected earnings report.

The aluminum giant posted second-quarter earnings that beat Wall Street's estimates and gave an upbeat forecast on aluminum demand.

What analysts are saying: "This is the first clean auction period we've had in a few months since investors aren't disturbed by the news as much as they were during the second quarter," said Jim Vogel, head of debt research at FTN Financial.

Vogel said investors are cheapening Treasurys to accommodate for the supply.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.32%4.26%
15 yr fixed3.36%3.27%
5/1 ARM3.37%3.27%
30 yr refi4.31%4.24%
15 yr refi3.34%3.25%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 16,408.54 -16.31 -0.10%
Nasdaq 4,095.52 9.29 0.23%
S&P 500 1,864.85 2.54 0.14%
Treasuries 2.72 0.08 3.19%
Data as of 1:18pm ET
Company Price Change % Change
Bank of America Corp... 16.15 0.00 0.00%
Facebook Inc 58.94 0.00 0.00%
General Electric Co 26.56 0.00 0.00%
Cisco Systems Inc 23.19 -0.02 -0.09%
Micron Technology In... 23.91 0.00 0.00%
Data as of Apr 17

Sections

GM won't have to tell customers to keep their recalled cars parked until fixed, after a federal judge denied emergency motion Thursday. More

Obamacare sign ups hit 8 million, though final enrollment remains to be seen. More

Office for iPad move is a symbolic victory for Nadella's Microsoft, but the company is still weighed down by many of the same old issues. More

Schwinn, Trek and Cannondale are all iconic American bicycle brands. But none of them are made in the United States. More

As Detroit moves closer to reaching a bankruptcy deal, retired civilian workers are poised to be left worse off than firemen and police officers. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.