NEW YORK: US Treasury debt prices held steady at lower levels on Wednesday after the government left the amount of its quarterly refunding unchanged at $72 billion despite trimming its estimated borrowing for this quarter.
The Treasury Department announced it will sell $32 billion in three-year notes; $24 billion in 10-year debt and $16 billion in 30-year bonds next week.
Some analysts had predicted the refunding size could be cut by up to $3 billion after the Treasury pared its borrowing estimate for the current quarter on Monday.
Benchmark 10-year Treasury notes traded down 2/32 in price, matching the level prior to the refunding details.
The 10-year yield remained at 3.26 percent, which was above 3.25 percent -- Tuesday's closing level and a key trading resistance level.