India, Aug. 19 -- After recovering from early weakness to end the previous session modestly higher, treasuries showed a more significant move to the upside during trading on Wednesday.
Bond prices surged early in the session and remained firmly positive throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, slumped 5.3 basis points to 4.653 percent.
The advance by treasuries came after the Treasury Department announced upscaled buyback operations for longer-term debt.
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