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March 16, 2021, 1:26 p.m. EDT

Treasury yields come off highs after strong debt auction

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By Sunny Oh

Treasury yields retreated from their highs after buyers showed up in force at a 20-year bond auction on Tuesday afternoon. The 20-year bond fell sharply from its intraday high of around 2.315% down to 2.271%. The 10-year note was down 0.5 basis point to 1.602%. Bond prices move inversely to yields. The ratio of bids received to bids accepted at the auctoin stood at 2.51 times compared to a historical average of 2.32 times.

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