U.S. 10-Year Note Auction of $21 Billion Disappointing

Headline Alert

Auction Update: 10-Year Auction Disappointing

The Treasury’s auction of $21 billion in 10-yr notes produced a yield of 3.448% with 67.28% allotted at the high.

The bid-to-cover ratio was 2.62, which was well below the average of 2.92

Indirect participation (think foreign governments and big institutions) was 34.9.

Bond prices fell in response to the results, which were viewed as disappointing. The current yield on the 10-year is trading at 3.43

 

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