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Bonds gave up all their gains on Tuesday after Bloomberg News and NewsRise Financial, citing people familiar with the matter, reported the government will likely sell a new 10-year benchmark bond this week as part of its regular weekly debt auction.
A new 10-year bond was expected to be unveiled this month, which had pressured existing bonds as traders made room for a potential new issuance.
The benchmark 10-year bond yield rose 3 basis points to 7.90%, off the day's low of 7.86%, keeping the yield unchanged from Monday's close.
