The US Treasury Dept sold $16 billion in a 30-year bond auction. There was talk the auction might be soft because of the snow but demand was unexpectedly strong.
Bid-to-cover at 2.27 vs 2.42 avg in the past 4 auctions.
Bond yields are falling today with 30s down 4 bps to 3.68% despite the upbeat mood in the stock market, that divergence should be a worry for longs in the yen crosses.
