US sells 20-year bonds at 4.160% vs 4.161% WI

• Prior was 4.466%
• Bid to cover at 2.54 vs 2.68 prior

Bonds were bid ahead of the sale but there was a small concession in the 15 minutes beforehand. That put the market in a good spot as there is no real surprise here. In the bigger picture though, it shows real demand at yields much lower than last month.

This article was written by Adam Button at www.forexlive.com.