US sells 10-year notes at 4.347% vs 4.350% WI

• Prior was 4.066%
• Bid to cover 2.58 vs 2.48 prior

Virtually everyone thought this one would tail because of election risks but someone showed up and we got a 0.3 bps stop through. I still find it hard to believe that will undo any pre-election angst but I believe it sets up the bond market for a rally tomorrow, especially if we end up with a divided congress.

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