28.09.201623:28:00UTC+00U.S. Sovereign Bond Prices Turn Lower After OPEC Deal Report

U.S. sovereign bond prices decreased as Reuters had reported that OPEC might have reached a deal in starting an oil production limit by November. The yield on the benchmark U.S. 10-year note was almost at 1.5686 percent, while the yield on 30-year notes was marginally higher at nearly 2.2895 percent.

The Treasury Department previously auctioned $28 billion in seven-year notes at a high yield of 1.389 percent. The bid-to-cover ratio was at 2.47, which is slightly under the recent average of 2.49. Indirect bidders were awarded 59.4 percent. Direct bidders purchased 10.5 percent. The yield on the seven-year note was nearly 1.3975 percent.