US Treasurys higher ahead of final 3-year notes auction
Published May 7th, 2007
Treasury-motes prices turned higher Monday morning, sending yields a bit lower, ahead of an afternoon auction of $14 billion of three-year notes, a maturity that the Treasury Department will retire after this afternoon’s sale.
The 1 p.m. Eastern auction is expected to meet strong demand. “Traders suspect the note could garner a bit of a scarcity bid as this will be the last of the three-year auctions,” said Action Economics.
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