By now this is routine. Using the method described in Monday's post, we can go to Bloomberg site and the economic calendar. They assess the auction as follows:
The 7-year auction proved the best in a week of heavy supply in light holiday conditions. Coverage of 2.98 is up from last month's 2.78, both auctions $29 billion in size. Buyside interest was solid with non-dealer bidding at 65 percent vs. a 62 percent average. With a high yield of 1.989 percent, the auction stopped out one basis point below the 1:00 ET bid.
Clearly the results were strong and Treasury was able to move in excess of $100 billion in Treasury notes at low yields. Note that the strongest leg of the three-part auction was the longest maturity.
Now all eyes turn toward Jackson Hole Wyoming to listen to Fed Chairman Bernanke to garner clues for the Fed's plan to get us out of this mess.
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