Dismal, 3Y Auction Has 3rd Biggest Tail On Record, Only Covid, SVB Worse Ahead of today’s closely watched 3Y auction, many were wondering if we would see the fingerprint of a Chinese treasury boycott and/or liquidation in the results from today’s sale. Well, here is the data that the Treasury released moments ago. The sale of $58 billion in 3Y paper priced at a high yield of 3.784%, down from 3.908% last month, but massively wider than the When Issued, which at 3.760%, meant we had a 2.4bps tail. As the chart below shows, there were only two bigger tails… — Continue at ZeroHedge News : Read More
