Treasuries Steady as Oil Slips, Denting Demand for Auction

Treasuries steadied at the end of a volatile session as developments in the Middle East war trimmed oil prices, though 30-year bond yields rose on signs of weak demand at the latest auction.

The $22 billion sale — the third and last of the week — was awarded at 4.876%, about half a basis point higher than indicated by pre-sale trading at the bidding deadline, a sign that demand fell short of expectations. The indicated yield peaked near 4.94% last week and was as high as 4.915% earlier Thursday. The result still was the highest for a 30-year auction since July.