US treasury sells $40 billion of seven-year notes at a high yield of 3.859% | Forexlive
- WI level at the time of the auction 3.835%
- High-yield 3.859%
- Tail: +2.4 basis points
- Bid to cover 2.5X. The last option came in at 2.44X
- Indirect’s 63.7 which was the weakest since March
- Directs 19.37%
- Dealers 16.19%
Not a particularly strong auction. Rick Santelli on CNBC gave him a grade of D+.
US stocks dipped a little bit after the report but bounced back. Major indices are still up marginally (0.14% to 0.18%). The S&P indexes within about 8 points it’s all-time high closing level. The Dow Industrial Average is on pace to close at another record level.
Overall, US yields are at record higher across-the-board:
- 2-year 4.280%, +3.9 basis points
- 10 year 3.846% +5.7 basis points
- 30-year 3.987% +4.2 basis points
The EURUSD is trading to new lows and approaches is 100 hour moving average at $1.10458.
EURUSD moves to a new low
USDJPY is testing the low of a swing area between 141.41 and 141.61.