- Prior was 5.046%
- Six auction average of 4.835%
- Bid to cover vs 2.30x prior
The auction prior to this one tailed by 0.5 bps. This is a reopening so it’s 29 years, 11-months, not 30 years.
The 1.2 bps tail is a bad sign in a world where congress is debating even more spending and megacap tech companies are running out of cash to burn on AI capex.
This article was written by Adam Button at investinglive.com.
