Treasurys Dip As Stocks Rise, Auctions Planned

NEW YORK (AP) — Treasury prices mostly fell for the second straight day on Thursday as investors again favored stocks and as the Treasury Department announced its latest round of auctions.

In late trading, the benchmark 10-year Treasury fell 8/32 to 101 21/32, pushing its yield up to 3.42 percent from 3.39 percent late Wednesday.

A disappointing report on weekly jobless claims was cast aside in afternoon trading as investors bought up stocks of companies that reported better-than-expected quarterly results.

Dow Jones industrial average components 3M Co., Travelers Cos., AT&T Inc. and McDonald's Corp. all posted upbeat results, helping that index rise more than the Standard & Poor's 500 index or tech-heavy Nasdaq composite index.

The government also announced its latest round of debt auctions. The Treasury Department said it will auction $121 billion in new debt next week as it continues to increase spending to stimulate the economy.

There have been worries that the Treasury Department could saturate the debt market with the large amount of debt it's selling which could lead to lower prices for Treasurys and higher yields. Most recent auctions have been met with solid demand, however.