US Treasury sees weaker demand for $42B 10-Year Treasuries By Investing.com

nvesting.com — The U.S. government sold $42 billion of 10-year Treasuries on Wednesday at a higher-than-expected yield as demand eased.        

The notes were awarded at 3.960%, 3.1 basis point above the expected yield, or when-issue rate, of 3.929%, but below the 4.276% high seen in the prior auction. 

The bid to cover ratio, a gauge of demand, for the auction fell to 2.32 from 2.58 seen in the prior auction. 

International demand led the bidding, accounting for 30.84%, while director bidders accounted for 12.66% of the auction.

The yield on the was at 3.966%, after trading at around 3.982% at the highs of the day.