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AUCTION GRADE: A
Strong demand by international buyers at 74.38%. That left the dealers with a small 8.87% of the balance. Domestic buyers were a little lesson average but not by much. The cover was higher than the average, and the tail was negative vs the WI level at the time of the auction.
Quite a strong auction as international investors seem to want to get involved in US debt ahead of potential rate cuts through year end.
This article was written by Greg Michalowski at www.forexlive.com.
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