Loading ...sold $44 billion in 7Y paper in what was a stellar auction.
The auction stopped at a high yield of 4.215%, 54bps higher than the 3.668% last month, and the highest since June, but more importantly, it was below the When Issued which traded at 4.235% at 1PM. As a result, the auction stopped through by 2bps, the biggest stop through Jan 2023
Looks like the Plunge Protection Team is in there in bonds………