10 yr auction was good
Ahead of CPI tomorrow and post Powell, the 10 yr note auction was pretty good. The yield of 4.276% was 1 bp below the when issued pricing. Also, the bid to cover of 2.58 was just above the one year average 2.52. Also, direct and indirect bidders took 88.5% of the auction which is similar to the June auction but the most since last August.
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