Treasuries Extend Selloff Following Poor, Tailing 5 Year Auction

Jon Alternative Media, Blogosphere, Economy

After yesterday’s stronger than expected 2Year auction, there was speculation that with the repo market normalizing overnight, that the omni-present short squeeze on auction days would be absent today, and predictably, moments ago the Treasury sold $34 billion in 5 Year paper in a rather poor, tailing auction, which priced at 1.936%, tailing the When Issued 1.931% by 0.6bps.

This post was published at Zero Hedge on Feb 22, 2017.