​Subpar 7Y Auction Tails As Direct Bidders Tumble To Lowest Since March 2020 – Tyler Durden

Subpar 7Y Auction Tails As Direct Bidders Tumble To Lowest Since March 2020 In the week’s final coupon auction, moments ago the US Treasury sold $44 billion in 7Y paper in what was at best a subpar auction. Stopping at a high yield of 3.770%, this was the lowest yield on the tenor since April 2023, and was a whopping 39bps tighter than last month’s 7Y auction. More importantly, the auction tailed the When Issued 3.761% by 0.9bps, the first tail since May. The bid to cover also dropped from the July auction, dropping to 2.50% from 2.637% last month…  — Continue at ZeroHedge News : Read More