US 10-YEAR TREASURY AUCTION SEES WEAKER DEMAND AS YIELD TOPS 5% The US Treasury sold $42 billion in 10-year notes at a high yield of 5.02%, above the 5.010% when-issued yield before the auction. The bid-to-cover ratio fell to 2.46 from 2.77 at the previous auction, signaling weaker investor demand. The auction tailed by 1 basis point, as investors demanded a higher yield to absorb the debt. Treasury yields are back above 5%, adding pressure to bonds, borrowing costs and equity valuations.(彭博社)