Bizarre Direct Bid Collapse Continues In Today's Tailing 5Y Auction
• https://www.zerohedge.com, by Tyler DurdenSimilar to yesterday's sale of 2Y paper, moments ago the Treasury sold $39 billion in 5Y paper at a high yield of 2.977%, below last month's 2.997%, and tailing the When Issued 2.971% by 0.6 bps.
