Reuters Treasury auctions in the United States will provide a demand ‘gut check’ as yields fall. Analysts said on Thursday that rising Treasury prices, which have pushed rates to five-month lows, could put a damper on demand for $62 billion in longer-term government debt expected to be auctioned next week. The auctions come as rates have fallen to levels last seen in February, with the benchmark 10-year yield hitting a session low of 1.25 percent on Thursday and the 30-year yield hitting a session low of 1.856 percent. After a “almost insatiable” length bid by investors for longer-term debt over the last couple of weeks, Zachary Griffiths, macro analyst at Wells Fargo, said current yields, which are at “much-less appealing levels” than during June auctions, could offer a headwind for demand./n
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