30 yr auction not good but better than the others this week
After the weak 3 yr and bad 10 yr Treasury auctions, the 30 yr was not good but better than the others. The yield of 4.671% was only 1 bp above the when issued as opposed 3 seen yesterday. The bid to cover at 2.37 was only slightly below the one year average of 2.41. And dealers were left with 17.3% of the auction, the most since last November.
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