US Treasury sells $20B 10-year notes at auction
- Prior was 2.333%
- The notes were trading at 2.580% on the bid side in the when-issued market ahead of the sale
- Bid-to-cover 2.66 vs 2.29
- Highest bid-to-cover since June
That should put a bid back in the Treasury market. Still, it's the highest yield at auction since July 2014.
You can see how closely the FX market is watching bonds. USD/JPY dropped 10 pips on the results.
