U.S. Treasury debt prices tumbled on Wednesday, taking benchmark yields to seven-month highs, as technical selling swept the market before the government auctions $15 billion in new debt.

The benchmark 10-year note slipped 16/32 in price, lifting yields to 4.46 percent from 4.395 percent late on Tuesday. The sudden spike cracked previous peaks at 4.42 percent and took yields to their highest reading since August.

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