Yields Hit Session High After Subpar 5Y Auction Tails For 10th Consecutive Time As Foreign Buyers Shrink

Yields Hit Session High After Subpar 5Y Auction Tails For 10th Consecutive Time As Foreign Buyers Shrink While yesterday's 2 Year auction was absolutely blockbuster, today's sale of 5Y paper left quite a bit to be desired. Starting at the top, today's sale of $70BN in 2Y paper priced at a high yield of 4.393%, which was modestly below last month's 4.408% if at the high end of all auctions in the past few years. It also tailed the When Issued 4.391% by 0.2bps, which was the 15th ...

By Tyler Durden