India, Aug. 6 -- Following the lackluster performance seen in the previous session, treasuries moved to the downside during trading on Wednesday.
Bond prices regained some ground after a late-morning slump but remained in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose 2.4 basis points to 4.220 percent.
With the increase on the day, the ten-year yield regained some ground after edging down to a three-month closing low on Tuesday.
The lower close by treasuries came after the Treasury Department revealed this month's auction of $42 billion worth of ten-year notes attracted well below average demand.
The ten-year note auction drew a high yield of 4.255 percent and a bid-to-...