NEW YORK: US 30-year bond prices gave up early gains to turn negative in late trading on Mo nday, with investors wary of pushing up prices ahead of debt sales later in the week.
The Treasury will auction $32 billion of two-year notes on T uesday, $24 billion of 10-year notes on Wednesday and $16 billion of 30-year bonds on Thursday to meet its quarterly refunding needs.
"I think Treasuries got a bit ahead of themselves" in the morning, said Suvrat Prakash, an interest rate strategist with BNP Paribas in New York.
"Overall, looking at the broader sense, I think people feel good about owning Treasuries. But ... some people would rather wait until the bond auction is out of the way on Thursday."
US 30-year bonds edged down 1/32 in price to yield 2.650 percent.
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