Bonds pare gains after 10-year TIPS sale

NEW YORK: US government debt prices pared earlier gains mid-afternoon Thursday after weak demand at an auction of $13 billion worth of 10-year Treasury Inflation-Protected Securities.

Treasuries prices briefly turned flat in reaction to the results on the 10-year TIPS sale, whose overall bidding came in at its weakest since April 2009.

Benchmark US 10-year Treasury notes last traded up 3/32 in price, yielding 1.763 percent, down 1 basis point from Wednesday's close.