TREASURIES-10Y note yield highest since June in sell-off

(Updates late afternoon market sell-off levels)

NEW YORK, Dec 7 (BestGrowthStock) – A vicious market sell-off on
Tuesday caused a 2-point price drop on the benchmark U.S.
10-year Treasury notes, pushing their yield to highest level
since June.

Investors bailed out of U.S. government debt initially on
worries over inflation and the ability of the federal
government to meet its huge debt obligation in reaction to news
of a political compromise to extend tax breaks to all Americans
for two years, analysts said.

The sell-off intensified after a disappointing three-year
debt auction and fears over its impact on bidding at subsequent
sales of 10-year and 30-year debt later this week, they said.

The 10-year Treasury yield touched 3.18 percent after
breaking above its 200-day moving average of 3.10 percent.
Analysts anticipate it will probe support in the 3.20 percent
area and then 3.25 percent.

(Reporting by Richard Leong)

TREASURIES-10Y note yield highest since June in sell-off