US sells 5-year notes at 3.645% vs 3.642% WI

• Prior was 4.121%
• Bid to cover 2.41 vs 2.40 prior

The results are a tad worse than expected in the when-issued market but not meaningfully so. There was something of a concession in the past few hours but I still think you get a sign of relief here, though I’ll be watching closely.

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