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Treasury Auction Results
Added at 1:25pm
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Stellar 30Y Treasury Auction Sends Yields Sliding
It had been a while since the US had a blockbuster auction, especially after two mediocre treasury sales earlier this year. Today's 30Y was just the stellar auction the bond market needed. With $24BN in 30Y paper for sale, down from last month's record $27BN, demand was blistering perhaps in light of the shaky equity market, and the high yield of 1.665% stopped through the 1.684% When Issued by 1.9bps, the biggest stop through since July 's 2.7bps. The bid to cover of 2.481 was not only well above the 2.292 from November, but the highest since July. The internals were also stellar, with Indirects jumping to 65.9% ... (full story)