Early returns indicate

The public news sources aren't carrying it yet, but the Bloomberg intraday yield chart seems to be saying that the auction may not have gone that well.

Will real money continue to love at 5.70, what they consistently have fallen head over heels for at 15 bps less?

Just in: The apparent difficulty is neither the yield (under secondary in the case of the 15-year), nor the bid-to-cover (2.13 for the 8- and 2.57 for the 15-year). Apparently, the Tesoro fell short of its maximum sales target. The stuff of nervous markets.






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