Treasuries Fall as 5-Year Note Auction Demand Lowest Since 2009
- U.S. sells securities at highest yield in more than a year
- Bonds decline as oil gains boost commodities, equities
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Treasury five-year notes fell, pushing yields to the highest since June, as a $35 billion auction of the securities drew the weakest demand in more than six years.
Bond prices declined after the five-year debt sold at the highest yield at an auction since September 2014, while a gauge of demand fell to the lowest since July 2009. A sale of two-year securities on Monday also drew the lowest level of bidding since 2009. Demand will face another test with the Treasury scheduled to sell $29 billion of seven-year securities Wednesday.