2s7s chart below showing just how much tolerance bond vigilantes have for anything with a duration of over 2 years and 1 day. 3 minutes until the 7 year auction results are announced.
Update: Closes at 3.30, 2 cheap to current, 2.26 bid-to-cover, 7 years now dropping.
Update: and it rips
And the 2s10s, back to yesterday's wide. The supplemental liquidity eliminators taking advantage of the total confusion in equities and squeezing equities higher.
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