Results of the 7-year auction
- The notes traded at 2.335%/2.330% in the when issued market before the sale
- Bid to cover 2.45 vs 2.54 prior
Basically right on the screws. Some screens were showing the WI a touch higher, so if anything the yield was a touch lower than the market was looking for. Benchmark yields have moved down around 0.5 basis points in the aftermath.
This halts a series of weak sales this week. It also wraps up the slate until Feb 8, when 10s are on sale.
