Mediocre 3Y Auction Tails Despite Solid Buyside Demand
Mediocre 3Y Auction Tails Despite Solid Buyside Demand With markets thrown in turmoil following Trump's threat to restart war against Iran in retaliation for downing a US Apache helicopter, it wasn't clear how today's $58 billion 3 year auction would go. In the end, it wasn't great, or terrible: a little tail, but besides that all metrics were relatively solid. The auction priced at a high yield of 4.192%, up from 3.965% in May and the highest yield since Feb '25. It tailed the...
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