U.S. Treasurys prices were mostly flat on Tuesday, pressured by corporate bond sales and supported by demand for relatively high U.S. yields, while traders also awaited Friday's U.S. jobs report.
Pharmaceutical company Actavis Plc launched a $21 billion corporate bond deal, the second-largest on record according to Thomson Reuters unit IFR. Analysts said investors sold some safe-haven Treasurys in order to buy some of the debt and that the size of the sale could balloon to $30 billion if demand exceeds expectations.
In addition, triple-A-rated Exxon Mobil planned to sell $7 billion in corporate bonds on Tuesday, according to IFR.
"This is about issuance," said David Ader, head of government trading at CRT Capital in Stamford, Connecticut.