Bond Selloff Accelerates
The $42 billion 2 year note auction closed earlier and was a disappointment:
- Yields 1.080% vs. Exp. 1.058%
- B/c 2.75 vs. Avg. 2.95 (Prev. 3.19)
- Indirect bids 33% vs. Avg. 50.69% (Prev. 68.86%)
- Allotted at high 21.59% (BBG)
The selloff across the bond curve picks up, with the 10 Year about to go red for the day, even as equities have fooled the T-800 army to bid stocks up amongst each other.