5 months ago
The recent auction of $39 million in 10-year Treasury notes at a high yield of 4.435% shows strong demand, as it was below the expected level of 4.465%. The -3.0 basis point tail is only slightly worse than the average, indicating stability. Additionally, a bid-to-cover ratio of 2.67X, above the six-month average, suggests robust investor interest despite economic uncertainties. Overall, this reflects confidence in U.S. Treasuries.