Yields Surge After Disastrous 10Y Auction, Biggest Tail In Over 6 Years

9 November 2022

After yesterday’s average $40bn 3Y Treasury sale, there wasn’t much angst ahead of today’s refunding sale of $35BN in 10Y paper (Cusip FV8). Well, there should have been because the just concluded sale of 10Y notes was gruesome.

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