MW: Treasurys edge down before auction, Beige Book
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices edged lower on Wednesday, pushing yields up, before the government sells $21 billion in 10-year notes, the second major auction of the week. Also putting pressure on bonds, U.S. stock futures pointed higher and Portugal saw a strong reception to its own bond auction, according to CRT Capital Group. The 10-year auction follows Tuesday's sale of 3-year notes (UST3YR 0.78, +0.05, +6.52%) at the lowest yield on record. Also coming up, the Federal Reserve will release its so-called Beige Book at 2 p.m. Eastern time. Yields on 10-year notes (UST10Y 2.63, +0.03, +1.16%) , which move inversely to prices, rose 2 basis points to 2.62%.
