3.99%
The 10 yr auction results were just announced. Fortunately, there were a lot of bidders. The rate is less than desirable. 46.85% were allotted at the high yield of 3.99% (median yield of 3.915%). While not as bad as it could have been, this isn’t particularly good news. Tomorrow’s 30 yr auction will be watched, but it won’t be as important as today’s.
