Wednesday, September 23, 2009

Treasury Market Not Loving 5yr Auction

A Massive $40 Bil in 5yr paper auctioned @2.47, while the market was around 2.41 (I think, my intra-day t-rate data is crap)...BtC of 2.40

Market throwing up after the auction w/ the 10yr futs trading from 117.09 down to 116.28

Complete auction results

UPDATE: 10y futs continue trading down to 116.205