An auction of 10-year Treasury debt encountered strong interest from buyers, marking a fourth consecutive robust offering and helping to allay concern that demand for U.S. assets is declining. While it is routine for the Treasury Department to borrow to fund the government,

The outcome of the auction will tell us something about how expensive borrowing will be for the government — and for the rest of us.

Treasury yields extended their recent declines after a $22 billion auction of 30-year bonds attracted strong demand from investors. Thursday’s sale completed a successful round of auctions for the government,