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After four consecutive poor, tailing 3Y auctions, moments ago the Treasury reported the results of today's sale of $58BN in 3 year paper, and it was nothing short of stellar.
The high yield of 4.300% was down 3.2bps from last month's 4.332% and stopped through the When Issued 4.313% by 1.3bps, the first non-tailing 3Y auction since September.