The U.S. Treasury plans to sell a record $75 billion in its quarterly auctions of debt next week and also indicated plans to expand inflation-indexed securities next year as it finances unprecedented budget deficits.
The Treasury plans to auction $37 billion in three-year notes on Aug. 11, $23 billion in 10-year notes Aug. 12 and $15 billion in 30-year bonds Aug. 13.
U.S. Treasury debt prices shed gains on Tuesday after data from the National Association of Realtors showed pending sales of previously owned U.S. homes rose at a faster-than-expected pace in June.
The data was seen as further evidence that the struggling U.S. housing market may be reaching a bottom.
Treasuries fell Thursday, pushing the yield on seven-year notes to near the highest level in more than a month, as the U.S. prepares a $28 billion offering of the debt amid concern the deluge of supply will overwhelm demand.
The yield on the seven-year note rose five basis points, or 0.05 percentage point, to 3.35 percent at 11:42 a.m. in New York, according to BGCantor Market Data. The 10-year note yield rose four basis points to 3.70 percent. The 30-year bond yield increased three basis points to 4.53 percent.
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