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Three-Year Note Auction Attracts Modestly Below Average Demand

Sovereign Debt & RatingsCredit & Bond MarketsInterest Rates & YieldsEconomic Data

The U.S. Treasury’s three-year notes auction this month raised $58B, but demand came in modestly below average. While not a full-fledged selloff signal, the weaker-than-usual demand suggests slightly more cautious pricing conditions for the front-end of the curve.

Analysis

The U.S. Treasury’s three-year notes auction this month raised $58B, but demand came in modestly below average. While not a full-fledged selloff signal, the weaker-than-usual demand suggests slightly more cautious pricing conditions for the front-end of the curve.

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mildly negative

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