NEW YORK: Prices for US 30-year Treasuries fell one full point on Wednesday after a lackluster debt sale, with thin holiday trading exacerbating swings in the market.
The 30-year bond fell as much as one point before more recently trading down 27/32 in price to yield 3.833 percent.
The Treasury sold $29 billion of seven-year notes at a high yield of 2.106 percent on Wednesday.
"Probably the early auction time before Thanksgiving and uncertainty surrounding the job data next week resulted in some investors tuning out, and dealers ended up with more paper than usual," said Nomura rates analysts in a note to clients.
The market will close for the US Thanksgiving holiday on Thursday and will close early on Friday.
With a relatively light slate of economic data this week, investors are instead waiting for next Friday's non-farm payrolls report, which will be key for Federal Reserve decisions on the future course of monetary policy.
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