Treasury’s $16 billion 20-year auction comes in mixed, leaving government-debt rally intact

Wednesday afternoon’s auction of the 20-year bond produced mixed results, leaving intact the rally in government debt which began overnight. Two- through 30-year yields were all lower, led by a 14-basis-point drop in the 7-year rate. The benchmark 10-year rate was down 13 basis points at 4.19% and the 30-year yield was off by 11 basis points at 4.29%, following a batch of weak data from the U.S., eurozone and the U.K. earlier in the day.