US sells 20-year notes at 4.900% vs 4.911% WI

• Prior was 4.686%
• Bid to cover at 2.75 vs 2.50 prior

This is a strong auction on part of the curve that’s tough to predict. Because of that, I wouldn’t necessarily extrapolate it to 10s or 30s but it’s certainly better than the alternative.

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