​Yields Hit Session High After 5Y Auction Tails – Tyler Durden

Yields Hit Session High After 5Y Auction Tails After yesterday’s solid 2Y auction, moments ago the US Treasury sold $70BN in 5 year notes, in an auction which saw yields tumble 46.8bps, to 3.642% – the lowest since April 2024 – from 4.110%. However, unlike yesterday’s stopping through 2Y auction, today’s sale tailed the When Issued 3.642% by 0.3bps, which was the 4th tail in the past 5 auctions. The bid to cover of 2.41 was effectively unchanged from last month’s 2.40% and just above the six-auction average of 2.38%. The internals were stronger, with Indirects awarded 70.5%, the highest…  — Continue at ZeroHedge News : Read More