Tepid demand for US Treasury auction shows investor jitters about tax bill, deficit

(Reuters) -The U.S. Treasury Department saw soft demand for a $16 billion sale of 20-year bonds on Wednesday with investors worried about the country's increasing debt burden as Congress wrangles with a tax and spending bill that is expected to worsen the fiscal outlook. The poorly received auction, which saw stocks and the dollar sell off while U.S. Treasury yields rose, shows intensified investor worries about the country's ballooning debt that could spur bond market vigilantes who want more fiscal restraint from Washington. Republicans were on Wednesday trying to find unity around a tax-and-spending bill which is expected to add trillions to the country's debt.

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