Treasury prices rise after 2-year note auction

Treasury prices are rising after the U.S. sold 2-year notes and after mixed economic reports.

The 10-year Treasury note rose 21.88 cents for every $100 in late afternoon trading Tuesday. The yield fell to 1.63 percent from 1.65 percent late Monday.

The U.S. sold $35 billion in 2-year notes priced to yield 0.273 percent. Slightly before the auction, 2-year notes already trading were yielding 0.272 percent. Demand was strong, with $3.94 in bids for every $1 offered.

The Standard & Poor's/Case-Shiller index showed home prices rose in June from May in all 20 cities tracked. The Conference Board said its consumer confidence index fell to its lowest point since November 2011.

The 30-year bond rose 46.88 cents for every $100 invested. The yield fell 2.74 percent from 2.76 percent.

Source: http://news.yahoo.com/treasury-prices-rise-2-note-auction-190841755--finance.html

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