US bonds rally as 10-year note auction demand holds
Treasury yields backed away from their highs after a strong $39 billion 10-year note auction; Treasuries rose in afternoon trading as oil prices fell.
US Treasuries gained in afternoon trading on Wednesday, with yields easing from session highs as oil prices fell and a strong $39 billion auction of 10-year notes reassured investors that demand for long-term government debt remained intact despite recent market volatility.