Set your watches, folks. The big show today is coming up at 1:00 PM ET, when the Treasury auctions off $12 billion worth of 10-year bonds.
Everyone and their cousin know the bond curve has been getting hammered all over the place, as investors bet on growth and reflation and perhaps (?) the truncation of QE.
And so everyone also expects the auction to be basically deserted. You’re already envisioning Rick Santelli calling it a D+ auction.
Check out the chart of 10-year bond futures if you’re at all confused.
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