MW: Treasurys edge down before 10-year note auction
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices fell slightly on Wednesday, pushing yields up, before the government sells 10-year notes and as traders see U.S. stock futures pointing higher and the euro gaining against the dollar, further adjusting positions in light of the latest bailout plan for Europe's debt-laden members. "If we get some stability this morning in Euro area, euro, and stock markets, we are likely to see some further concession for the 10-year auction set up, but we wouldn't get too bearish," said Tom di Galoma, head of U.S. rates trading at Guggenheim Partners. Yields on 10-year notes (UST10Y 3.52, -0.01, -0.40%) , which move inversely to prices, rose 3 basis points to 3.56%. Treasurys stayed down after the Commerce Department said the U.S. trade deficit widened to a seasonally adjusted $40.4 billion in March.
