Summary Box: Interest rates fall sharply after strong demand seen at 10-year note auction

Summary Box: Interest rates fall after auction

AUCTION RESULTS: There was strong demand for $21 billion in 10-year Treasury notes the government auctioned off Wednesday. The bid-to-cover ratio was 3.72, easily topping recent auctions for 10-year notes.

RATES FALL: After the surprisingly strong results at the auction, bond yields fell sharply as their prices rose.

CHANGE OF PACE: Weak demand at auctions had helped push interest rates higher in recent weeks. The 10-year note eclipsed 4 percent on Monday for the first time since June.