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$20 Billion In 10Y Paper Prices "On The Screws"

Following the stronger than expected 3Y auction, moments ago the US Treasury completed today's second bond auction, when it sold $20 billion in 10Y paper, which priced "on the screws" at 1.793%, or right on top of the When Issued, and modestly above September's 1.699%. Just like in today's earlier auction, the Bid to Cover rebounded to 2.53 from last month's 2.35. The internals, also like in the previous auction, were in line, with Indirects taking down 62.
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