By Martin Baccardax The U.S. Treasury sold $33 billion in 10-year notes Tuesday at a high auction yield of 2.96%, but fading demand from foreign buyers ahead of tomorrow’s key June inflation reading made for a messy benchmark auction. Investors bid $2.34 for every $1 of 10-year notes on offer from the Treasury, auction data indicated, the lowest since December of 2020 and a notably softer tally than the 2.41 ‘bid-to-cover’ ratio recorded at the last auction on June 8, when the yield was 3.03%. Prices and yields in the bond market move in opposite directions, making today’s paper more expensive…
