U.S. sees good demand for 7-yr sale; bonds stay up

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U.S. sees good demand for 7-yr sale; bonds stay up
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- The Treasury Department sold $29 billion in 7-year notes on Wednesday at a yield of 1.233%. Bidders offered to buy 2.72 times the amount of debt sold, compared with an average of 2.68 times at the last six sales, according to Nomura Securities. Indirect bidders, a group which includes foreign central banks, bought 39.9%, versus an average of 39.8%. Direct bidders, a group which includes domestic money managers, purchased another 23.1%, compared with 14.4% on average. It's the highest direct bidder award on record, according to CRT Capital Group. After the auction, the broader bond market held onto gains. Yields on 10-year notes , which move inversely to prices, lately fell 2 basis points to 1.80%.