Results of the $12 billion, 30-year bond auction
- Prior was 3.152%
- Bid to cover at 2.32 vs 2.39 prior
This was very close to expectations. The market looks to have priced in a bit of fear about another strong auction and there has been some kneejerk selling (higher yields), but it's a minor move.
After all the drama earlier this week, this is a forgettable one. But the takeaway might be a bit less worry about bonds and some stability. That would be good news for the US dollar.
