Results of the 5-year Treasury auction
- Prior was 1.950%
- The notes were at 1.870% in the when-issued market beforehand (on the bid side)
Slightly higher yield than expected, in contrast to yesterday's sale, where the yield was a bit lower than the market was anticipating.
Bonds aren't doing much today, with the front end of the curve up 1-2 bps and the rest flat.
