A Small Canary Just Died

printingmoney tbi

Selling U.S. debt was a bit harder than expected today.

Today’s treasury auction came in a bit below expectations, with the 7-year yield hitting 3.14% after initial expectations of 3.11%.

The bid to ask, which is the total value tendered over the total accepted, as shown below, came to 2.65. This was lower than the average of the last four auctions.

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