Results of the US 2-year note auction
- Prior was 1.280%
- Bid to cover at 2.68 vs 2.44 prior
Small tail and that's the direction the market has been moving today.
What's notable is that rising yields have usually meant a higher US dollar. That's the case in USD/JPY today but cable and CAD aren't cooperating. In a sense, that makes the moves in cable and USD/CAD even more impressive.
