News

US sells 10-year notes at 0.677% vs 0.681% WI

The results of the $38 billion 10-year sale

  • Prior was 0.653% (record low)
  • Bid to cover at 2.41 vs 2.62 prior

A strong bid for Treasuries showed up in the final minutes before the auction, sending yields near the lows of US trading. That was a tell as demand at this auction was much stronger than it looked.

We will have to see if that stalls or reverses the 4-day climb in Treasury yields.

Here is the intraday look at 10-year yields:

In FX, there is a bit of a double-top unfolding in USD/JPY on the intraday chart and this is a good reason to go with it. Moreso if 106.69 breaks.

For bank trade ideas, check out eFX Plus

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