India, Feb. 5 -- Treasuries moved notably higher during trading on Wednesday, extending the upward move seen over the course of the previous session.
Bond prices showed a strong move to the upside early in the session and remained firmly positive throughout the day. Subsequent, the yield on the benchmark ten-year note, which moves opposite of its price, slumped 9.1 basis points to 4.422 percent.
The ten-year yield added to the 3.0 basis point dip seen on Tuesday, falling to its lowest closing level in well over a month.
The continued strength in the bond market came after the Treasury Department said its current auction sizes leave it well positioned to address potential changes to the fiscal outlook.
Based on current projected borrowin...