​Gruesome, Tailing 3Y Auction Sees Plunge In Foreign Demand As Buyers Flee – Tyler Durden

Gruesome, Tailing 3Y Auction Sees Plunge In Foreign Demand As Buyers Flee One would think that the first coupon auction after the Fed’s rate cut would have passed better; one would be wrong. Moments ago the Treasury sold $58 billion in 3Y paper, matching the all time high issuance for the tenor, in an auction that was unexpectedly ugly. The sale stopped at a high yield of 3.878%, the highest since July, and tailing the When Issued 3.871% by 0.7bps, the first and biggest tail since June and followed the biggest stop through since August 2023. The Bid to Cover…  — Continue at ZeroHedge News : Read More