Record Large 2Y Auction Prints At Record Low Yield As Bid To Cover Tumbles Tyler Durden Tue, 05/26/2020 13.17 Following a sharp drop in short end rates in May, when fed funds futures traded negative for the first time ever sending 2Y yields plunging, it was a given that today’s 2Y Treasury auction would price with a record low yield, the only question was by how much

Record Large 2Y Auction Prints At Record Low Yield As Bid To Cover Tumbles Tyler Durden Tue, 05/26/2020 13.17 Following a sharp drop in short end rates in May, when fed funds futures traded negative for the first time ever sending 2Y yields plunging, it was a given that today’s 2Y Treasury auction would price with a record low yield, the only question was by how much

paper Registration 2Y Grand Auction Prints at record low yield Bid to cover Tumbles Tyler Durden Tue, 26/05/2020 13:17 Following a sharp drop in short end rates in May, when fed funds futures traded edly-met-its-primary-endpoint-hitting-coincidentally-just-seconds-before-the-Q1-GDP-print-and-with-newswires-initially-reporting-the-GDP-erroneously-as-a-positive-48-print-it-was-clear-that-the-real-number-would-be-a-disaster-and-sure-enough-moments-later-newswires-reversed-and-reported-that-Q1-GDP-was-in-fact-a-worse-than-expected-negative-48-the-biggest-drop-since-March-of-2009-and-officially-marking-the-start-of-the-US-recession’>negative for the first time the sending yields plunging 2Y always, it was a given that the 2Y Treasury auction today is the days-remarkable-2Y-auction-which-saw-the-Bid-to-Cover-surge-to-a-6-year-high-the-internals-today-were-not-nearly-as-pretty-with-the-BTC-dropping-to-2565-from-last-months-2758-although-in-fairness-that-was-the-highest-ratio-since-Jan-2018-so-it-was-hardly-concerning’>price low yield record, the only question was how much.