Stellar 3Y Auction Stops Through Even As Yields Hit 1 Month High

Stellar 3Y Auction Stops Through Even As Yields Hit 1 Month High With yields blowing out today as they followed the sharp increase in oil prices after Iran struck no less than 3 ships crossing the Hormuz Strait (with a Trump response sure to follow), we doubt there was much focus on today's 3Y auction. Which is unfortunate because despite the selloff in the secondary market, the auction itself was quite solid.  The sale of $58BN in 3 Year paper, the week's first coupon auction, ...

By Tyler Durden