3 Year Auction Stops At Highest Yield In Over 7 Years
@zerohedge -

In this week's first TSY auction, moments ago the US Treasury sold $24.0BN in 3-year paper at a yield of 1.657 percent, matching or "on the screw" with the 1.657 When Issued. This was the highest stop on a 3Y auction in over 7 years, or since April 2010.

And unlike last month's poor 3Y auction which saw one of the lowest Indirect takedowns in recent year, today's auction saw solid bid-side demand, with the Bid to Cover rising to 2.83 from last month's disappointing 2.70 if still below the 6...

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