NEW YORK: Prices on US 30-year Treasury bonds fell nearly 1 point, extending their earlier decline, as news Greece is closer to receiving needed cash to stave off a disorderly default spurred traders to reduce their safehaven bond holdings.
Thirty-year bond prices succumbed to further selling as dealers prepared room for an upcoming $16 billion auction of 30-year bond supply.
The long bond last traded down 27/32 in price with a yield of 3.19 percent, which was the highest intraday level since mid-November, according to Tradeweb.
The 30-year yield broke above the 3.18 percent area, which some analysts consider a major support level. If the 30-year yield closes above 3.18 percent on Thursday, it could rise further and test the 3.45 percent level.
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