Treasury Raises $24 Billion In 10-yr Note Auction

Published February 8, 2012 7:00PM (EST)

NEW YORK (AP) — The U.S. government easily managed to sell new 10-year debt. With nervousness over ongoing talks in Europe for a second bailout of Greece, U.S. debt has been a safe haven for global investors.

The Treasury Department auctioned $24 billion of 10-year notes at a yield of 2.02 percent Wednesday.

There were $3.05 worth of bids for every dollar sold, slightly lower than the average of $3.10 in the last six auctions. Though demand fell slightly, market experts have been surprised at the consistently high demand in recent months for U.S. debt, despite low yields.

The yield on the benchmark 10-year Treasury was flat at 1.98 percent in afternoon trading compared with late Tuesday. Its price edged 3.1 cents lower for every $100 invested.

By Salon Staff

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