US selling $12 billion of 30-year bonds at the top of the hour
The 30s are trading at 2.480% on the bid side in the when-issued market.
Yields have fallen today on risk aversion but sentiment in stocks is improving. I think bonds, and yen crosses are reluctant to follow stocks until after the sale.
Interestingly, the most-recent sale was at 2.475%, which is almost precisely where we're trading.
