After Yesterday's "Stinker," Today's Treasury Auction Is What To Watch

Today’s 7-year treasury auction is the must watch moment on our radar. Yesterday’s auction was labelled a “stinker” by Pimco’s Bill Gross, suggesting markets were concerned about the long-term security of the U.S. debt situation.

Whether or not today’s 7-year auction sees such weak demand will give us a clue as to what the bond market will look like heading into the new year.

The yield on the 10-year, above 3.48 after yesterday’s close.

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