Today's auction dropped yields "only" 44-45 basis points (44.8 on the average accepted bid). That scared the futures market, or disappointed the players, engendering a quick 64+ tick sell-off. That selling took prices through yesterday's lows where the bond bulls stepped in, bringing prices back up a bit.
Stocks were up a bit on the news, but currencies were basically flat.
Stocks were up a bit on the news, but currencies were basically flat.
