Poor 5 yr auction has yields at highs of day and 10 yr back above 4.50%

Treasury yields are rising to the high of the day after the 5 yr auction was poor. The yield of 4.553% was above the when issued pricing of 4.54%, thus tailing. The bid to cover of 2.30 was well below the one year average of 2.47 and the weakest since September 2022. And, dealers were stuck with the 2^nd highest percentage of a 5 yr auction also since September 2022 at 19.5%. This follows the 2 yr auction earlier today that was mediocre and will be followed by a 7 yr tomorrow.