Now that the US has put its latest Treasury refunding behind it, traders are somewhat less concerned about a precipitous collapse in the US bond market. The 30-year portion of this week’s bond sales went the best off all, no doubt owing to the fact that yields are so much higher today than they were just a week ago..
EUR/USD reached the 1.3250 level before stalling after the auction result.
We’ve since eased to 1.3237. Small stops are eyed above the 1.3260 level near-term.
US Treasuries have settled down at slightly lower yields; 10s are now at 3.205% .