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