Interest rates little changed before government auctions $21 billion in 10-year notes

Interest rates little changed before debt auction

NEW YORK — Interest rates are little changed in the bond market as investors avoid making big moves before an auction of 10-year Treasury notes.

The yield on the 10-year note was unchanged at 3.96 percent Wednesday morning compared with late Tuesday. The 10-year yield is often used as a benchmark for interest rates on consumer loans.

Treasury yields have climbed steadily in recent weeks, in part because of weak demand at some auctions. The government is selling $21 billion in 10-year notes Wednesday.

Investors have been grappling with concerns about oversupply recently as the government issues record amounts of debt to cover spending to help support the economy.

Mounting evidence the economy is healing has also pushed yields and interest rates higher.