Yields Spike As 10Y Auction Tails

Yields Spike As 10Y Auction Tails

Well, that escalated quickly. https://twitter.com/heisenbergrpt/status/829390601707802627 10Y yields just spiked following a nasty looking, tailing 10Y auction. Here's the breakdown: Treasury Sells $23b 10Y at 2.333% vs 2.314% WI Yield at Deadline High yield 2.333% vs last auction 2.342% Bid-to-cover 2.29 vs last auction 2.58 Dealers awarded 30.6% vs last auction 20.7% Direct bidders awarded 4.4% vs last auction 8.7% Indirect bidders awarded 65.1% vs last auction 70.5%
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