High yield of .940, just 4 bps higher than current trading at .900.
Low yield at .79, and median at .91.
Perhaps the most impressive component was the 2.94 Bid-To-Cover--so much for the US credit rating fears affecting auction demand.
Indirect Bid was hefty over 50%.
MBS and Tsy's both like the news by a few ticks, but the periods following such auctions are historically volatile.
Stay tuned, and stay alert, but in both cases, with crossed fingers.
MBS Market Alerts
