Newsfeed: 10Y Yield Soars To 12 Year High After Dismal 2Y Auction
One minute after 1pm, the Treasury announced results from today’s sale of $43 billion in 2Y paper, which were nothing short of disastrous. The high yield – already the highest in 15 years – was almost a full percent, or 98bps, above August’s 3.307%, and stopping at a high yield of 4.290%, the auction tailed the When Issued 4.274% by 1.6bps, the biggest tail going back to feb 2020 when the bond market was similarly paralyzed, but back then it was due to covid.
Newsfeed: 10Y Yield Soars To 12 Year High After Dismal 2Y Auction Read More »
