U.S. Treasury's $35 billion auction of 10-year notes was 'absolutely awful,' says Bleakley's Boockvar
Treasury's $35 billion sale of 10-year notes on Wednesday was described by Peter Boockvar, chief investment officer of Bleakley Financial Group, as "one of the worst I've seen in terms of the tail, bid to cover and level of direct and indirect bidders." In a tweet sent just minutes after the auction at 1 p.m. New York time, Boockvar wrote "absolutely awful." Jefferies economists Thomas Simons and Aneta Markowska said the statistics generated by Wednesday's auction were "quite poor." Treasury yields traded mixed after the sale, with the 10-year rate hovering around 4.1%
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