TREASURIES-Prices slide after U.S. debt ceiling resolution
* Long yields rise to multi-week highs
* U.S. debt ceiling resolution weighs, helps boost yields
* Markets brace for U.S. 10-year note auction
NEW YORK, Feb 12 (Reuters) - U.S. Treasury debt prices fell on Wednesday after the U.S. House of Representatives passed a measure on the U.S. debt ceiling and a new Federal Reserve chair vowed to maintain the bank's current strategy of reducing asset purchases at a gradual pace.
Yields on U.S. 30-year bonds climbed to a three-week peak, while that of 10-year notes hit a two-week high, as investors backed away from safe-haven Treasuries and sought other riskier assets such as stocks. Wall Street shares on Wednesday opened on a positive note.
On Tuesday, the approved a one-year extension of federal borrowing authority after Republicans caved in to President Barack Obama's demands to allow a debt limit increase without conditions.
The 221-201 vote was a stark contrast with the confrontational fiscal tactics House Republicans have used over the past three years, resulting in last October's 16-day government shutdown.
"This is a spillover from Yellen. It's also the whole debt ceiling resolution," said David Coard, head of fixed income sales and trading at Williams Capital Group in New York.
"So overall, there's less uncertainty. I know that the debt ceiling resolution had a negative effect on the bills, but it had a positive effect on the longer end. So it all came together to see the sell-off that we're seeing."
Also on Tuesday, Fed Chair Janet Yellen said it would take a notable change in the U.S. economic outlook - a significant deterioration in the job market, or if inflation does not rise - for the Fed to pause its tapering plan.
Benchmark 10-year Treasuries were last down 10/32 in price to yield 2.75 percent, their strongest level since Jan. 29.
Thirty-year bonds, meanwhile, fell 15/32 in price to yield 3.70 percent, after hitting three-week peaks of 3.71 percent earlier.
Five-year notes were down 5/32 in price to yield 1.55 percent, while seven-year notes were 7/32 lower with a yield of 2.21 percent.
The market is also bracing for the Treasury's auction of $24 billion in 10-year notes later in the session after Tuesday's successful sale of three-year notes.
The when-issued rate for 10-year notes was up three basis points at 2.78 percent.