Rally in treasurys gains momentum after very strong 7-year auction


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Thursday's rally in U.S. government debt picked up momentum following a $44 billion sale of 7-year Treasury notes that produced solid results. The auction was "very strong"


with a stop-through of 2.2 basis points and nondealer bidding of 95.2%, which was above the 89% average, according to BMO Capital Markets strategist Vail Hartman. Soon after the results came


in, Treasury yields touched session lows. The 7-year yield fell to as low as 4.19%. Meanwhile, the 10-year rate dropped to just below 4.42% and the 30-year yield touched 4.91%.