The results of the $38 billion 10-year sale
- Prior was 0.653% (record low)
- Bid to cover at 2.41 vs 2.62 prior
A strong bid for Treasuries showed up in the final minutes before the auction, sending yields near the lows of US trading. That was a tell as demand at this auction was much stronger than it looked.
We will have to see if that stalls or reverses the 4-day climb in Treasury yields.
Here is the intraday look at 10-year yields:
In FX, there is a bit of a double-top unfolding in USD/JPY on the intraday chart and this is a good reason to go with it. Moreso if 106.69 breaks.