NEW YORK (CNNMoney.com) -- Treasurys slipped Tuesday after a $38 billion auction of two-year notes, with $66 billion in debt sales still on tap for the week.
What prices are doing: The benchmark 10-year note fell 15/32 to 103-25/32, pushing its yield up to 3.05% from 3% late Monday. Bond prices and yields move in opposite directions.
The 30-year bond lost 1-1/32 to 105-2/32 and its yield was 4.068%. The 2-year note edged down 3/32 to 100 and yielded 0.65%.
On Monday, Treasurys were flat as investors prepared for the week of auctions.
What's moving the market: This week's debt sales kicked off Tuesday with a $38 billion offering of two-year notes. The bid-to-cover ratio, a measure of demand, was 3.33 -- slightly higher than that of the previous two-year note auctions.
A $37 billion auction of five-year notes is on tap Wednesday, and the government will sell $29 billion in seven-year notes Thursday.
Earlier in the session, bond prices fell as stocks extended the previous session's rally after reports on housing and consumer confidence were mixed.
The Case-Shiller index of home prices in 20 cities showed that home prices rose 4.6% in May after rising 3.8% in April.
A separate report said consumer confidence dropped for a second straight month, to 50.4 in July. Economists surveyed by Briefing.com expected a reading of 51.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.80%||3.88%|
|15 yr fixed||3.20%||3.23%|
|30 yr refi||3.82%||3.93%|
|15 yr refi||3.20%||3.23%|
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