- Prior was 4.066%
- Bid to cover 2.58 vs 2.48 prior
Virtually everyone thought this one would tail because of election risks but someone showed up and we got a 0.3 bps stop through. I still find it hard to believe that will undo any pre-election angst but I believe it sets up the bond market for a rally tomorrow, especially if we end up with a divided congress.
This article was written by Adam Button at www.forexlive.com.
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