Yields Soar After Catastrophic 10Y Auction Shocks With 3rd Biggest Tail On Record

• Yields Soar After Catastrophic 10Y Auction Shocks With 3rd Biggest Tail On Record
  by Tyler Durden, https://www.zerohedge.com/
  Earlier today we said that while the CPI report would be the day’s main highlight, the real shocker should inflation come in hot, would be today’s 10Y treasury auction. And when the Treasury sold $39 billion in a 9-Year 11-Month reopening moments ago, all hell broke loose.
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  Stopping at a high yield of 4.560%, this was not only almost 40bps higher than last month’s 4.166% and the highest since October, it also tailed the 4.529% When Issued by a whopping 3.1bps, a surge compared to last month’s tail of just 0.9bps, but also the highest tail since the 3.7bps in Dec 2022 and also the third largest tail on record!
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