Rates rise after weak auction results
DISAPPOINTING TURNOUT: Interest rates jumped in the bond market Wednesday after a government debt auction drew weaker demand. An auction Tuesday also saw lower demand.
NOT THAT INTERESTED: The auction of $42 billion in five-year notes saw demand fall from the past two months. That means the government could have to start offering higher interest rates to attract buyers.
LUCKY NUMBER SEVEN: The government plans to auction $32 billion in seven-year notes on Thursday in the final auction of the week. The yield is higher on the seven-year note. The sale could draw more investors.