Strong Demand For 30Y Paper Shows No Shortage Of Buyers Amid Surge In Issuance

Following yesterday’s strong 3Y and 10Y auction in a day of supply deluge, moments ago the Treasury sold $13 Billion in 30Y paper in the latest strong auction, which stopped at a high yield of 3.109%, stopping through the when issued 3.114% by 0.5bps. The Bid to Cover also showed a marked improvement, rising from 2.26 to 2.38, if just below the 6 month auction average.

Once again, refuting the incorrect narrative that foreigners are