US 2 year yields show the PMI dip and the auction dip
Earlier today it looked like these notes could sell above 5% but some strong bids arrived in the fixed income market after today's weaker US PMIs from S&P Global.
- Bid to cover at 2.66 vs 2.62 prior
- Prior sale was 4.595%
USD/JPY has slumped back lower on the heels of the auction.
