Yesterday, the Treasury began their weekly auction activity with the sale of $35 billion 3-year notes. This was the first of three auctions for the week. The auction did not have much impact on Treasuries or mortgage bonds even though demand was a bit weaker than expected. There’s not much in the way of the impactful economic releases today. The Treasury will continue this week’s activity with the auction of $21 billion in 10-year notes today.
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