US sells 30-year bonds at 3.185% vs 3.200% WI

• Prior was 2.997%
• Bid to cover 2.35 vs 2.38 prior

There was a late concession in the market as the WI moved up to 3.200%, likely due to the tails at recent auctions. Instead, there was strong demand at the long end. That could mean that some of the corporate issues this week were digested or there's demand for long-term US bonds.

In any case, yields are down to 3.1748% as there were clearly some buyers waiting in the weeds and hoping to pick them up cheap, or to cover shorts.

As for the broader market, this could cool USD/JPY JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term and boost risk sentiment.