U.S. sovereign bonds extended gains Wednesday after the Treasury Department saw good demand at a 10-year note auction and amid a slide in Wall Street stock indexes.
The Treasury on Wednesday sold $23 billion in 10-year notes at a high yield of 1.71 percent. The bid-to-cover ratio, an indicator of demand, was 2.68, versus a recent average of 2.62.
Indirect bidders, which include major central banks, were awarded 73.5 percent. Direct bidders, which include domestic money managers, bought 11.8 percent.