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Strong demand seen at 10-year Treasury auction

Published 10/11/2017, 02:38 PM
© Reuters.  Strong demand seen at 10-year Treasury auction
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  • Taking advantage of the sharply higher yield on the 10-year Treasury over the past month, real-money buyers took down a full 69% of today's $20B auction vs. 55% at the last sale (yield today was 2.35% vs. 2.18% at the last one).
  • Dealers needed to buy up just 25% of today's sale vs. 39% at the last one.
  • Thomas Byrne from Wealth Strategies & Management tells Barron's that such strong demand may be a sign that the rise in yields is about over.
  • The 10-year yield is down 2 basis points today to 2.34%. TLT +0.25%, TBT -0.5%
  • Previously: Hoisington Management remains bullish on Treasurys (Oct. 11)
  • Now read: The Job Market Has Bad Breadth


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