Tailing 30Y Auction Prices At Lowest Yield In 8 Months

Zero Hedge | 3/13/2019 | Staff
Click For Photo: https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/max_650x650/public/2019-03/30Y%20March%202019.jpg?itok=iprXK9wv

After a mediocre 3Y auction and a stellar 10Y auction, today the Treasury concluded the week's coupon issuance with the sale of $16 billion in reopened 29-year 11-month bonds. The high yield of 3.014%, while coming at the lowest since July 2018, was a surprisingly big tail to the 3.006% When Issued, suggesting some indigestion during the auction process.

Yet while the high yield left a little to be desired, the internals were solid with the Bid to Cover printing at 2.254, fractionally below February's 2.27% which also happened to be the 6 auction average. Meanwhile,...
(Excerpt) Read more at: Zero Hedge
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