Treasuries Close Lower On News Of Record Auction Of Government Debt

A few notable quotes:

During the session, the Treasury Department revealed that it plans to sell a total of $94 billion worth of notes next week, surpassing last week's record $67 billion debt auction.
In other economic news, the Philadelphia Federal Reserve said its index of activity in the manufacturing sector fell to a negative 41.3 in February, its lowest reading since October of 1990. Economists expected the index to edge down to a negative 25.0.