Treasury yields trade flat after sharp gains in the previous session

FXStreet (Mumbai) - The yields on the short duration and long duration Treasury yields in the US trade flat, after witnessing sharp gains in the previous session due to to poor demand at a USD 13 billion auction of 30-year bonds and a smaller-than-expected rise in weekly jobless claims.

Bidding at the latest 30-year bond sale resulted in a yield of 2.598%, about 3 basis points higher than what traders had expected. Meanwhile, the labor department data showed a slower-than-expected rise in initial jobless claims last week, which pushed the four-week average to its lowest since 2000.

The Treasuries also lost safe haven demand after Greece made a EUR 450 million loan payment to the International Monetary Fund (IMF).