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.
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.
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.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.08%||4.25%|
|15 yr fixed||3.17%||3.23%|
|30 yr refi||4.06%||4.19%|
|15 yr refi||3.16%||3.18%|
Today's featured rates:
As Elon Musk cancels the latest launch of a SpaceX rocket, he's also got some "horrible nightmares" to contend with. More
Tech fans are already excited about the launch of Apple's iPhone 6 next month. There's now a report suggesting that the iWatch could be coming too. Wall Street is pleased. More
Utah State professor Michael Glauser cycled 4,000 miles this summer, visiting 100 entrepreneurs across the country. Here's a snapshot of how they grew their businesses. More
Top performers are likely to clean up relative to their average-performing peers, according to companies surveyed about their variable-pay programs. More