Stock Market Update

[BRIEFING.COM] The major averages remain near session lows in the early afternoon hours.

Meanwhile, the 10-year yield is just off the top of today's three-basis point range in immediate reaction to the just-completed $39 billion 10-year note reopening. The sale met good demand with the high yield stopping through the when-issued yield by a tenth of a basis point. Meanwhile, the bid-to-cover ratio (2.59x vs 2.48x average) and indirect takedown (78.2% vs 68.8% average) were well above average.