The 7-year note auction saw decent demand with a 2.26 bid-to-cover. The yield was a bit higher than the when-issued, at 3.30%. No real drama. Then again, there was no drama in yesterday’s auction either, all the moves came in the aftermath.
10-year yields are back where they began, around 3.73%. The dollar, however is lower. EUR/USD is at 1.3925 versus closing levels around 1.3830 yesterday.
