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AUCTION GRADE B
The auction came in just below the WI level (-0.1 basis point tail). The Bid to cover (a measure of demand) was near the 6-month average. The dealer were left with much lower than expected as international buyers came in strong – buying 77.2% of the auction which was well above the average of 69.7%.
However, the domestic buyers were much less than the average.
So some good and some average/below average. The mix is good enough for B grade for the auction.
Looking at the yield curve:
The Nasdaq did reach to a new low below 18000 to 17972.87, but is currently trading down -510 points or -2.76% at 17998.
S&P index is down -1.38% and the Dow continues to better and on page 4 a another record high. Its up 174.20.43 percent at 41,130.36.
The small-cap Russell indexes down -1.05% as it takes a breather from the recent surge.
This article was written by Greg Michalowski at www.forexlive.com.
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