Today's US Treasury auction results:
Highest accepted yield (High Yield): 4.423% with a tail +0.8bps (higher than market yield: 4.415%).
Today's market yields were already elevated due to macro data, yet the auction yield was even higher.
MARKET DAILY
Market 01/17: US - China stocks drop after macro data
2023 retail sales surged thanks to automobiles and dining services. Fear of yields returning. US Treasury 20Y auction unfavorable.
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