Government debt was flat on the short end but bonds were losing ground in action a day after Treasuries were uniformly higher.

Notes and bonds have been primarily trading lower for the last week-and-a-half, as investors appear more willing to stick their money in equities. As the U.S. and its allies have continued to make progress in the war in Afghanistan, bonds have lost some of their appeal. Investors feel less compelled to seek the safety government fixed-income securities offer, and are willing to take more risks in the stock market.

Around midday, the two-year note was down 1/32 to 99 22/32, yielding 2.92%. The five-year was flat at 97 4/32, with a yield of 4.14%. The 10-year Treasury was losing 3/32 to 101 15/32 to yield 4.81%, and the 30-year bond, which is being discontinued, gave up 10/32 to 101 26/32, yielding 5.25%.