Solid 3-Year T-Note Auction Lends Firm Tone To Market
BY BLOOMBERG Treasuries rose for the first time in seven days as investors seeking the safety of shorter-maturity debt boosted demand at the U.S. sale of $32 billion in three-year notes. The securities yielded 0.411%, below the average forecast of 0.413% in a Bloomberg News survey of seven of the Federal Reserve's 21 primary dealers. Congress remained deadlocked over automatic spending cuts known as sequestration. Treasuries fell for the past six
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