Stellar 30Y Auction, Record Low Dealer Takedown, Sends Yields Tumbling
January 13, 2021 at 13:44 PM EST
Demand for 30Y paper was so very strong, and so clearly not matching the recent weakness in the secondary market, that the 10Y yield crash a massive 3bps(!) once the auction results hit, as it plunged from 1.10% to 1.07%.