Treasuries moved modestly lower during trading on Tuesday, extending the downward move seen over the past few sessions.
Bond prices moved to the downside in early trading and remained stuck in the red for much of the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged up by 1.2 basis points to 1.783 percent.
With the modest uptick, the ten-year yield moved higher for the third consecutive session, climbing further off the four-month closing low set last Thursday.
The modest weakness among treasuries came amid another light day on the U.S. economic news front, with last Friday's better than expected jobs report still in the minds of traders.
Treasuries saw continued weakness following the release of the results of the Treasury Department's auction of $32 billion worth of three-year notes.
The three-year note auction drew a high yield of 0.354 percent and a bid-to-cover ratio of 3.38, while the ten previous three-year note auctions had an average bid-to-cover ratio of 3.57.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Amid another quiet day on the economic front, trading on Wednesday may be impacted by the Treasury's auction of $24 billion worth of ten-year notes.
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