Bond prices fall after $35B note auction

NEW YORK (AP) — Treasury prices mostly dipped Wednesday after tepid demand at an auction of $35 billion in five-year notes.

The price of the 10-year Treasury note slipped 25 cents per $100 invested. Its yield, which moves in the opposite direction, rose to 3.49 percent from 3.46 percent late Tuesday.

Short-term and medium-term bonds pared back their gains from Tuesday, when concerns over escalating tension in Libya led traders to seek safer investments. The 30-year bond still drew interest, pushing its price higher.

Investors are also considering the potential economic effects of a spike in oil prices caused by spreading unrest in North Africa and the Middle …