Another so-so bond auction from the US. As noted yesterday, it appears investors are not in love with the idea of buying bonds at auction these day, preferring the flexibility of buying in the secondary market.
US bond yields are backing up a bit after the auction with 10-year notes now yielding 3.26%.
No matter how “bad” the Us auctions look, they are going a heck of a lot better than those in Europe this week.
