The US Treasury is auctioning $13 billion 30-year bonds at the top of the hour in the first long bond sale of 2014. Yields have been quiet today after yesterday’s rise.
The bonds are trading at 3.905% in the when-issued market. Long-term yields haven’t moved up since the taper; on Dec 12, T-bonds sold at 3.90%.
A major mark will hit when 30s sell above 4%.
US 30 year auction history
