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The Treasury sold $39 billion of 10-year notes at a 5.30% yield, with a bid/cover ratio of 2.77, the highest since 2014. Indirect bidders took 80.3% of the issue and dealers took only 2.5%, both signs of strong demand.
The Treasury sold $39 billion of 10-year notes at a 5.30% yield, with a bid/cover ratio of 2.77. Indirect bidders took 80.3% of the issue, while dealers absorbed only 2.5%.