Prior was 3.980% 6-auction average of 3.725%.
Prior was 3.980% 6-auction average of 3.725%. Bid to cover at 2.33 vs 2.29 prior The two-year sale tailed by 0.1 bps and this one by 0.5 bps.
Those aren’t big misses but Treasury yields are now at the highs of the day, up 3-4 bps across the curve. We could finally be seeing some Iran war angst, though not yet in the stock market. WTI crude was last up $2.26 to $96.65 and brent is closing in on $110.
The big round numbers are likely to be the pain points in the market, and maybe in politics as well. This article was written by Adam Button at investinglive.com.