US 10 year high yield 2.346%. Highest yield since May 2017

Bid to cover at 2.54x vs 2.28X

  • Indirect bids 69.1%
  • Direct bids 6% versus reason averaged 7%. Lowest since July
  • The bid to cover comes in at 2.54x vs 2.28x last.
  • The bid to cover was the highest since June
  • Primary dealers take of the notes is the lowest since March.

Decent auction.

Best in 2026

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