US Treasuries drop for second straight day after weak demand at $58bn auction

US Treasuries drop for second straight day after weak demand at $58bn auction

Lower than expected purchases of three-year government debt add to investor angst

Dismal, 3Y Auction Has 3rd Biggest Tail On Record, Only Covid, SVB Worse

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

US treasury auctions off $58 billion of 3-year notes at a high yield of 3.784%

WI level at the time of the auction was 3.76%

Dismal, 3Y Auction Has 3rd Biggest Tail On Record, Only Covid, SVB Worse – altnews.org

Ahead of today’s closely watched 3Y auction, many were wondering if we would see the fingerprint of a Chinese treasury

Dismal, 3Y Auction Has 3rd Biggest Tail On Record, Only Covid, SVB Worse - Nemos News Network

Ahead of today’s closely watched 3Y auction, many were wondering if we would see the fingerprint of a Chinese treasury boycott and/or liquidation in the results from today’s sale. Well, here is the data that the Treasury released moments ago. The sale of $58 billion in 3Y paper priced at a high yield of 3.784%, down from 3.908% last month, but massively wider than the When Issued, which at 3.760%, meant we had a 2.4bps tail. As the chart below s…