EVERYTHING IS GOING SWIMMINGLY: Treasury’s $39 billion auction of 7-year notes was poorly received, trader says. “Tuesday afternoon’s sale of 7-year Treasury notes was met with poor to lukewarm demand. The $39 billion auction was a ‘fairly ugly auction based on where things were at 1 p.m. Eastern time,’ with primary dealers taking a larger-than-usual chunk of the allocation.” (Bumped).
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