It’s all relative, though. They sold $21 bln at 2%. The bid to cover was 3.03, about 0.1% lower than the 10 auction average.
I think it just shows that investors have somewhat lower demand for bonds with low yileds.
Take that as a good sign. Hopefully they will invest in more productive assets than treasuries.
EUR/USD is firmer, now at 1.3725.
