John Canavan Auction Quotations

The spread supply had been a factor weighing on the Treasury market and when the 10-year TIPS auction didn't go terribly well, that compounded the issue.

The auction went quite well. There was good interest from indirect bidders,

Initially we turned a little lower after the auction results, but in the end we turned a little higher. It just seems as if the market has been able to recover partially after the losses of the last two days.