Yields Spike As 10Y Auction Tails

Well, that escalated quickly.

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%

tail

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