The Treasury Department sold $35 billion in 5-year notes at a yield of 0.71%, the lowest since November 2012.
Bidders offered to buy 2.86 times the amount of debt sold, compared to an avearge of 2.8 times at the last four sales.
The Treasury Department sold $35 billion in 5-year notes at a yield of 0.71%, the lowest since November 2012.
Bidders offered to buy 2.86 times the amount of debt sold, compared to an avearge of 2.8 times at the last four sales.
After two weeks of significant increases, my model for inventory growth with higher mortgage rates came crashing down last week.